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Rate cuts at Barclays as lender shaves up to 0.25% off selected products

Journalist: Justin Moy, Contributing Editor

ended 26. March 2024

Barclays has today announced up to 0.25% off a selection of their rates, including the headline deals below. Newspage asked brokers for their thoughts, below.

9 responses from the Newspage community

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Peter Stokes
Director of Mortgages at Davidson Deem
Rate cuts are like buses. None for ages then two come along at once. Hot on the heels of some reductions from HSBC, unsurprisingly Barclays follow suit. Recent swap rate reductions have given lenders room to lower their rates, and those that have the capcity and desire for more business are able to lower their rates accordingly. Here's hoping more buses will follow in the next few days.
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Gary Bush
Financial Adviser at MortgageShop.com
Barclays just trumpeted: "We are pleased to confirm we are reducing rates on a selection of products by as much as 0.25% across our residential purchase and remortgage range, effective from tomorrow, Wednesday 27th March 2024." But when you dig a little deeper into their marketing release, it seems they are reducing just 4 of their mortgage rates leaving at least 29 as they are. It's a dangerous game of mortgage rates cat and mouse at the moment, with lenders running in different directions. Speak to your financial adviser to ensure you are ahead of these confusing times.
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Editor
Darryl Dhoffer
Founder at The Mortgage Geezer
Barclays are out of the blocks with a barrage of reduced mortgage rates. Hopefully this sets off the fire beacons for all lenders to see and follow.
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Riz Malik
Independent Financial Adviser at R3 Wealth
You would think Barclays are making the Easter holiday weekend eggstra special with rate cuts on selected products. All reductions are welcome.
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Justin Moy
Managing Director at EHF Mortgages
This is a welcome move by Barclays, with meaningful reductions to many of their fixed products, as we look towards the most popular time of year for home purchases. The housing market needs a real kickstart to have any chance of success in 2024. This is hopefully just the start everyone has been waiting for.
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Elliott Culley
Director at Switch Mortgage Finance
Rate reductions from Barclays are a welcome addition and should signal the beginning of rate reductions among the big six. The outlook is now more positive and further rate reduction are likely over the coming days and weeks.
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Charles Breen
Founder at C B
Barclays has beaten HSBC with bolder rate reductions today. Are we back to the halcyon days of rate wars among lenders? It's starting to feel like that. Do they know more than the rest of us about rate cuts in May? If mortgages were a sport, it feels like we may have entered into extra time. Any reduction will be a relief to UK borrowers who are feeling the squeeze and combat the soaring price rises that have been felt for the past two years in rip-off Britain.
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Anil Mistry
Director and Mortgage Broker at RNR Mortgage Solutions
Only a select few rates have been reduced, indicating that lenders, such as Barclays, remain cautious yet are also keen to lower rates. It will be intriguing to see how other lenders respond in the coming days.
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Emily Stonehill
Mortgage and protection adviser at Model Financial Solutions
Finally! Lenders are coming out of the shadows and implementing the rate reductions we have been expecting. Let's hope Barclays encourage more lenders to follow.