Barclays has become the latest lender to reduce mortgage rates, as competition in the UK housing market intensifies. The cuts bring borrowing costs down to their lowest levels since 2022, offering potential relief to homebuyers and remortgage customers alike.
Mortgage rates are falling rapidly following last month’s Bank of England base rate cut from 4% to 3.75%, the sixth reduction since August 2024.
HSBC led the moves on Monday, cutting residential and buy-to-let mortgage rates for 2026. Barclays has folloed suit with reductions across purchase and remortgage deals, while Halifax will trim rates from today, with some products dropping by up to 16 basis points.
Borrowing costs are now at their lowest levels since 2022.
“With some lenders repricing on a weekly basis, it is now possible to access a short-term fix at just over 3.5 per cent,” said Mark Harris, chief executive of SPF Private Clients.
Aaron Strutt, communications director at mortgage broker Trinity Financial, added: “All these price cuts so early in the year are good news for borrowers, especially those keen to get on the property ladder or remortgage.”
Barclays rate cuts:
Existing product decreases
Residential
Purchase Only
- 3.62% Premier 2 Yr Fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 3.56%
- 3.63% 2 Yr Fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 3.57%
- 3.82% 2 Yr Fixed £0 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 3.77%
- 3.69% Premier 2 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 3.60%
- 3.70% 2 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 3.61%
- 3.90% 2 Yr Fixed £0 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 3.81%
- 3.98% 2 Yr Fixed £899 product fee, 80% LTV, Min loan £5k, Max loan £2m will decrease to 3.62%
- 4.18% 2 Yr Fixed £0 product fee, 80% LTV, Min loan £5k, Max loan £2m will decrease to 3.82%
- 3.86% 5 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 3.82%
- 4.08% 5 Yr Fixed £0 product fee, 80% LTV, Min loan £5k, Max loan £2m will decrease to 4.00%
- 3.72% Green Home 2 Yr Fixed £0 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 3.67%
- 3.80% Green Home 2 Yr Fixed £0 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 3.71%
- 3.76% Green Home 5 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 3.72%
Remortgage Only
- 3.70% Premier 2 Yr Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 3.67%
- 3.71% 2 Yr Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 3.68%
- 3.82% 2 Yr Fixed £999 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 3.78%
- 4.13% 2 Yr Fixed £999 product fee, 80% LTV, Min loan £5k, Max loan £2m will decrease to 4.09%
- 4.04% The Great Escape™ 2 Yr Fixed £0 product fee, 60% LTV, Min loan £50k, Max loan £2m will decrease to 4.00%
- 4.12% The Great Escape™ 2 Yr Fixed £0 product fee, 75% LTV, Min loan £50k, Max loan £2m will decrease to 4.10%
- 4.38% The Great Escape™ 2 Yr Fixed £0 product fee, 80% LTV, Min loan £50k, Max loan £2m will decrease to 4.36%
- 3.80% Premier 5 Yr Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 3.75%
- 3.81% 5 Yr Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 3.76%
- 4.05% The Great Escape™ 5 Yr Fixed £0 product fee, 75% LTV, Min loan £50k, Max loan £2m will decrease to 4.02%
Existing Customer Reward Range
Existing product decreases
Residential
- 3.70% EMC Reward 2 Year Fixed £999 product fee, 60% LTV, Min loan £1k, Max loan £2m will decrease to 3.67%
- 4.03% EMC Reward 2 Year Fixed £0 product fee, 60% LTV, Min loan £1k, Max loan £2m will decrease to 3.99%
- 3.81% EMC Reward 2 Year Fixed £999 product fee, 75% LTV, Min loan £1k, Max loan £2m will decrease to 3.77%
- 4.11% EMC Reward 2 Year Fixed £0 product fee, 75% LTV, Min loan £1k, Max loan £2m will decrease to 4.09%
- 3.80% EMC Reward 5 Year Fixed £999 product fee, 60% LTV, Min loan £1k, Max loan £2m will decrease to 3.75%
- 3.99% EMC Reward 5 Year Fixed £0 product fee, 60% LTV, Min loan £1k, Max loan £2m will decrease to 3.95%
- 4.04% EMC Reward 5 Year Fixed £0 product fee, 75% LTV, Min loan £1k, Max loan £2m will decrease to 4.01%