LTV mortgage rates cut by Barclays

Wednesday, 28 July 2010 12:00

Barclays has announced it is to cut rates on its 80 per cent loan-to-value (LTV) Woolwich mortgages.

A reduction of 0.21 percentage points will take place on a two-year fixed deal, from 4.59 per cent to 4.38 per cent.

The three and five-year fixed rates will also witness drops of 0.10 percentage points.

It was also revealed a drop-lock option for all new mortgage customers.

Andy Gray, head of mortgages at Barclays, said: "The drop-lock facility provides customers with peace of mind that they can go into a low tracker rate now."

He added they can then switch in the future when they desire increased security.

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