Loan rate cuts announced by Barclays

Mortgage rate cuts announced by Barclays

Barclays has announced a cut in its mortgage rates of up to 0.34 percentage points.
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Monday, 21 June 2010 12:00

Barclays has unveiled plans to cut the rates on its highest loan-to-value (LTV) products.

The bank confirmed it is to reduce the rates on its Woolwich mortgages by up to 0.7 per cent from Wednesday June 23rd.

It stated the move is further evidence of the company's commitment to higher LTV borrowing.

Head of mortgages at the organisation Andy Gray commented: "The improvement to the highest loan-to-value products will be welcomed by those with smaller deposits."

Other promotions to have been unveiled include a reduction of 0.6 percentage points on a three-year fixed rate and a cut of 0.4 percentage points for mortgages up to 85 per cent LTV.

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