Barclays is introducing a new fee-free two-year fixed rate charging 1.05% from today.
It is also cutting rates across its five-year fixes at 70% and 75% LTV, and its two-year tracker at 60% LTV.
Highlights include:
1.85% 2 year fixed, 60% LTV (fee free)
2.59% 5 year fixed, 70% LTV (£999 fee)
2.69% 5 year fixed, 75% LTV (£999 fee)
1.34% 2 year Tracker, 60% LTV (£999 fee, follow on BBBR+1.99%).
Barclays is also introducing a new product, a three-year stepped fixed rate to 85% LTV.
This starts at 3.09% for the first year, reducing to 2.99% and 2.89% in years two and three respectively.
Andy Gray, managing director of Mortgages for Barclays, said: "We are giving homebuyers one of the best fee-free mortgages on the high street, the security of fixing their rate at a competitive 1.85% and zero application fees.
"Our extremely competitive two and five-year deals are significantly lower than the average market SVR rate of 4.4%.
"It will have strong appeal to those homeowners who have between 35-40% equity in their property and are currently sitting on their lender's SVR to fix their monthly mortgage payments."
Gray said both new homeowners and those looking to take their next step on the property ladder, can select a three-year term stepped fixed at 3.09% for the first year with reducing rates in years two and three.
"Over the three-year term, the average rate of 2.99% will help customers to save £268 compared to an initial fixed term rate of 3.09%."
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