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Barclays pulling the market leading 4.75% two-year fix and the 4.93% five-year fix

ended 28. September 2026

We're increasing and withdrawing rates 

From tomorrow, Tuesday 29 September, we are increasing a selection of products across our residential and buy-to-let (BTL) purchase, remortgage and reward ranges.

In addition, we will be withdrawing several products across our residential purchase and remortgage ranges.

Please see the rate overview guide for information of all our product changes.

5 responses from the Newspage community

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Aaron StruttVerified
Product and Communications Director at Trinity Financial
Barclays is pulling the market leading 4.75% two-year fix and the 4.93% five-year fix. The bank last changed its rates on the 22nd September so while these deals have not been around for long, they would have been incredibly popular especially with so many of the bigger lenders mostly offering fixes over 5% now.
This move puts pressure on lenders like NatWest and Nationwide as some of the remaining lenders offering fixed rates below 5%. NatWest has a five-year fix at 4.98% and Nationwide has a 4.93% two-year fix and a 4.89% five-year fix.
Unless there is better global news particularly regarding inflation and the war between Iran and America it doesn’t seem like rates will be coming back down for a while, but the market can change quickly. If you want a sub-5% fixed rate you will need to be quick because there probably won’t be any left soon.
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Dariusz KarpowiczVerified
Director at Albion Financial Advice
Barclays rarely moves alone. When the lender holding the market leading 4.75% two-year pulls it, others tend to follow within days, and the sub-5% pool is already shallow.

If you are mid-application or eyeing a rate, secure it now. Most lenders let you switch down if something better appears later, so there is little downside to locking in early and plenty of risk in waiting a fortnight. Deals are still out there, but they are disappearing faster than most borrowers can gather their paperwork.
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Adam StilesVerified
Managing Director at Helix Financial Partners
Barclays are likely pulling rates due to service levels suffering from sourcing top of the list. Whilst this is not unusual, we hope that once we see some stability, multiple lenders will start to drop rates and normal service can resume. The question is of course, when.
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Stephen PerkinsVerified
Norwich Mortgage Broker and Managing Director at Yellow Brick Mortgages
Most borrowers won't qualify for the very cheapest mortgage on the market, but best-buy deals still matter because they set the benchmark other lenders compete against. When a major lender like Barclays withdraws a 4.75% two-year fix and a sub-5% five-year deal, it is another sign that competitive pressure is moving in the wrong direction.

The concern isn't just those two products disappearing. If other lenders follow rather than compete to replace them, borrowers could quickly find the whole market has shifted higher.
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Elliott BensonVerified
Owner at Sett Mortgages
Another reason to pick up the phone when your broker is calling you six months before the end of your fix