Barclays Slashes Interest Rates on 2-Year Mortgage
Yesterday, on May 29th Barclays announced a cut in its 2-year fixed mortgage, Great Escape.
The loan, available for borrowers with a 30% deposit, is mainly aimed at borrowers who want to remortgage and is now offered at 3.74% (down from 3.89%). The mortgage comes with no fee to attract borrowers from other banks.
Commenting on the latest offer, Michael Ossei, of uSwitch, said: "On the face of it Barclays appears to be swimming against the tide. But this further discount coupled with no fees and cashback on its fixed rate mortgage is an inspired move, as it means that it is now in position to mop up other lenders’ disgruntled customers."
The bank has also slashed the interest rate and application on first-time buyer mortgages.
To see what Barclays bank has to offer for homebuyers, please, visit the official website of the lender or your local branch.
You can also use comparison websites to see what other mortgage deals are available from different UK mortgage lenders.
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