Barclays Mortgages is cutting rates for home buyers and movers across its two and five-year fixed rate range from today.

A new rate switch product will allow Barclays Mortgage customers to benefit its cheapest exclusive deals.

The changes apply to mortgages with LTVs between 60% and 80%.

Craig Calder, director of Mortgages for Barclays, said: “The spring months are traditionally a period of increased house buying activity and we have introduced some new competitive low rates to meet customer demand.

“The two and five-year deals are significantly lower than the average market SVR of 4.57%. 

“They provide an opportunity for any homeowners who are either sitting on their lenders SVR or whose current fixed rate mortgage deal is coming to an end, to reduce their outgoings by fixing their monthly mortgage payments, creating both savings and certainty.”

Highlights include:

2 year fixed at 1.39%, 60% LTV (purchase only)

2 year fixed at 1.43%, 60% LTV (remortgage only)

2 year fixed at 1.43%, 60% LTV (*Rate Switch exclusive)

2 year fixed at 1.69%, 75% LTV (*Rate Switch exclusive)

2 year fixed at 1.79%, 60% LTV (fee free)

2 year fixed at 1.77%, 80% LTV

5 year fixed at 2.19%, 60% LTV

5 year fixed at 2.45%, 70% LTV