Barclays Announces Mortgage Rate Cuts Following Volatile Market Conditions

The bank is reducing rates on select products by up to 0.20 percentage points, offering relief to borrowers after a period of widespread increases by major lenders.

Barclays will lower rates on residential purchase and remortgage products starting Wednesday, with reductions of up to 0.20 percentage points.
The move follows a period of volatility in swap markets, which lenders use to price mortgages, and recent rate hikes by other major lenders.
Highlighted reductions include a two-year fixed deal at 90% loan-to-value, dropping from 5.49% to 5.39%, and a remortgage deal reduced to 4.3% from 4.5%.
The Bank of England recently cut its base interest rate to 4.75%, but economists predict further rate reductions will occur more gradually than previously expected.
Experts describe the rate cuts as a positive step for borrowers, providing modest relief and potentially signaling stabilization in the mortgage market.

Evening Standard