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Barclays Cuts Rates Post Trump’s Tariff Reversal

Journalist: Riz Malik

ended 10. April 2025

Barclays has announced that they are making reductions to selected rates commencing Friday 11 April. Highlights below. Given that SONIA swaps are expected to increase today, eroding some of the recent reductions, Newspage asked brokers if Barclays is brave or whether the wheels were put in motion before the tariff announcement - and if these rate cuts might be short lived. Views bottom.

Key Purchase product highlights:

  • 4.11% 2 Yr Fixed  £899 product fee, 60% LTV, Min loan £5k, Max loan £2m, will decrease to 3.99%
  • 4.32% Premier 3 Yr Fixed  £899 product fee, 60% LTV, Min loan £5k, Max loan £2m, will decrease to 3.99%
  • 4.12% 5 Yr Fixed  £899 product fee, 60% LTV, Min loan £5k, Max loan £2m, will decrease to 3.99%
  • 5.28% Mortgage Guarantee 2 Yr Fixed £0 product fee, 95% LTV, Min loan £25k, Max loan £570k, will decrease to 4.90%
  • 5.03% Mortgage Guarantee 5 Yr Fixed £0 product fee, 95% LTV, Min loan £25k, Max loan £570k, will decrease to 4.84%.

Introducing new Green Home purchase products:

  • 4.39% Green Home 2 Yr Fixed £899 product fee, 85% LTV, Min loan £5k, Max loan £2m
  • 4.26% Green Home 5 Yr Fixed £899 product fee, 85% LTV, Min loan £5k, Max loan £2m.

8 responses from the Newspage community

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Stephen Perkins
Managing Director at Yellow Brick Mortgages
Barclays being the first big six lender to enter the sub-4% fixed rate market is an encouraging development. The big question, of course, is whether that pricing decision was instigated prior to the Trump tariff reversal or with full knowledge of it. We now hold our breath to see if other major lenders will follow suit in cutting their rates.
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Jack Tutton
Director at SJ Mortgages
Barclays have offered some significant cuts to their products, in spite of Trump pausing his tariffs and the subsequent change in the market. These cuts may be short-lived should the pause turn more permanent. It will be interesting to see if any other lenders decide to follow Barclays’ lead.
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Ben Perks
Managing Director at Orchard Financial Advisers
Barclays join the sub-4% party this morning. The UK mortgage market has responded positively during the market turmoil caused by Trump’s tariffs, and now he has U-turned we could see things improve further. Let’s keep an eye on swap rates over the next 48hours and keep fingers crossed.
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Riz Malik
Independent Financial Adviser at R3 Wealth
Brave Barclays battles boldly. Barclays are brave to follow Coventry with rate cuts given that some of the recent reductions in market pricing are expected to be reversed following Trump’s tariff U-turn. Volatility is the name of the game at present and these rates could be gone very quickly.
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Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
These cuts may have been planned before Trump U-turned and brought in his 90-day pause. So, Barclays may have jumped the gun early, but it's unlikely they'll reverse course now. This could be the trigger that causes other lenders to start cutting rates, too. But given the unpredictability in the markets right now, it wouldn't be a shock if other lenders held back until some semblance of stability hopefully returns in the next week or two.
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Michelle Lawson
Director at Lawson Financial
It’s fantastic to see sub-4% rates again. Whether these drops are temporary or not they are still a borrower's bonanza. It is important for the public to ensure they are organised if wanting a mortgage in the coming months so they can secure these deals with a good broker while they are around.
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David Stirling
Independent Financial Adviser at Mint Wealth
Barclays follow Coventry Building Society into the fray with competitive rates cuts to below 4%. While Trump's tarriffs cause topsy turvy commotion in the global financial markets, Barclays boldly step forward and lay down a marker. Whether they are simply dipping their toes in and this will be shortlived remains to be seen, however the general feeling is that other major lenders will follow suit this week.
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Justin Moy
Managing Director at EHF Mortgages
Good to see a High Street lender reprice sub-4%, that psychological target of recent mortgage pricing. That said, it’s for those looking to buy rather than remortgaging or switching to a new deal. As other lenders will look to a similar position in the market, we hope to see those looking for a new deal, those 1.4m borrowers coming off their deal in 2025, feeling the benefit too.