Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Barclays Reduces Residential Mortgage Rates by Up to 50bps

Barclays has announced a series of reductions across its residential mortgage range, with some rates cut by up to 50 basis points. The changes will take effect from 7 August 2026 and apply to selected purchase, remortgage, and existing customer products.

The bank is lowering rates on a variety of fixed-term mortgages. Among the largest reductions, Barclays’ 10-year fixed purchase mortgage at 60% loan to value (LTV) with a £999 fee will decrease from 5.62% to 5.12%. The 10-year fixed at 80% LTV will fall from 6.03% to 5.53%.

In the purchase range, a two-year fixed mortgage at 75% LTV with an £899 fee will reduce from 4.88% to 4.7%. A five-year fixed mortgage at 60% LTV with an £899 fee will drop from 4.67% to 4.58%. Higher-LTV products are also affected, including a five-year fixed mortgage at 90% LTV with an £899 fee, which will fall from 4.95% to 4.85%, and a two-year fixed mortgage at 95% LTV with no fee, which will decrease from 5.4% to 5.35%.

Within its remortgage range, Barclays is lowering rates on several products. The two-year fixed mortgage at 60% LTV with a £999 fee will fall from 4.78% to 4.69%. The Great Escape two-year fixed deal at 60% LTV with no fee will reduce from 5.1% to 4.97%. Barclays is also introducing a new Great Escape three-year fixed remortgage product at 4.88% for borrowers with up to 60% LTV and loan sizes between £50,000 and £2 million.

Rates are also being reduced across Barclays’ Existing Mortgage Customer Reward range. For example, the two-year fixed mortgage at 60% LTV with a £999 fee will fall from 4.75% to 4.66%, and the 10-year fixed mortgage at 75% LTV with a £749 fee will decrease from 5.32% to 5.12%.

These changes may be of interest to letting agents and inventory clerks monitoring mortgage rate trends and their potential impact on the UK property market.