Barclays Unveils Sub-4% Mortgages as Rates Show Signs of Easing

Positive news coming out of the Mortgage industry today as Barclays Bank has expanded its range of sub-4% mortgage deals, riding on the wave of optimism in the market about the potential for falling interest rates in the foreseeable future.

Barclays became the first high street bank to offer sub-4% mortgages in April and it has added six additional products in May, including options for their existing customers.

For residential purchases there are now 2 x 2 Yr Fixed sub-4% products, and 3 x 5 Yr Fixed products below 4%.

For re-mortgaging customers, the lowest they currently offer is 4.12% 5 Yr Fixed with maximum lending of £2m.

And for their existing customers with their Reward Range, they now offer a sub-4% 5 Yr Fixed product.
And whilst this one is not sub-4%, for the long-term rate-pessimists, or those who want to know exactly what they’ll be paying for the next decade, they even offer a 10 Yr Fixed rate of 4.75%, decreasing to 4.65%.

This all adds to the general sense that even if we don’t see any reductions in the base rate in the very near future, the worst seems to be behind us and at least one High Street Bank has the confidence to translate this into some attractive offers! Hopefully this will be the first of many and we’ll see more of the big-name lenders following suit soon.