Barclays launch sub-3pc 10-year fix
The product, which is available up to 60% loan to value, is part of a raft of changes to the Barclays range.
The lender has introduced a 60% LTV 2-year tracker at Barclays Bank Base Rate plus 0.89% with the lowest follow on rate on offer at BBBR plus 1.99%.
It has also significantly reduced the rates on some of its 2-year and 5-year fixed products, providing further support to customers looking for a better mortgage deal.
Andy Gray, managing director of mortgages for Barclays, said: “The New Year is traditionally a time to get your finances in order and plan for the year ahead.
“We are thrilled to be offering a UK first in the shape of our 10-year 2.99% fixed rate.
“Our New Year deals cater for a range of needs from homeowners reviewing their mortgage to those hoping to get on the property ladder during 2015 – we are confident our rates will be extremely appealing.
“A homeowner with a £150,000 mortgage balance with a market average SVR of 4.4% could achieve savings of £4,595 over 2-years when choosing Barclays 2-year tracker at BBBR+0.89%.”