The i - Barclays launches cheapest mortgage rate at 3.75% - but here's the catch
Barclays has launched the cheapest two-year fix at a rate of 3.75 per cent – however not everyone is eligible. The deal is only available for property purchases and for those who are “premier” customers.
Aaron Strutt of brokers Trinity Financial told The i: “It shows how keen banks and building societies are to attract borrowers. The cheapest two-year fixes are still more competitively priced than many of the three- and five-year fixes, and they are still popular as many people still think rates will be lower in a few years time. If you can get a sub-4 per cent rate I still think you are doing pretty well.”
He added the two-year fix from Barclays offers decent value for money especially as it is available for larger mortgage loans. Many people are still taking two-year fixes because they think fixed rates will be cheaper in a few years and it is hard to disagree.”
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