Barclays announces further mortgage rate reduction

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Barclays announces further mortgage rate reduction

People hoping to take their first steps on to the property ladder could be interested to hear a number of new deals from Barclays.

The lender has today (June 2nd) unveiled plans to place further reductions across its range of fixed-rate and tracker mortgages.

Working through its building society arm, Barclays has announced cuts of up to 0.21 percentage points across a wide range of products.

The Largest reductions will take place across two and three-year fixed-rate deals, which are available at up to 70 per cent loan-to-value for customers.

Andy Gray, head of mortgages for Barclays, said: "We have been continually cutting rates since early April in response to falling swap rates and the competition in the market, with some rates having decreased by up to 52 percentage points since then."

Barclaycard is currently offering an incentive to new customers by offering ten per cent cashback on all fuel spending until August 31st.

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