Barclays relaunches sub-5% mortgage rates in new round of price cuts and Halifax offering 3.99% tracker mortgage again
Barclays is lowering its mortgage rates across a selection of purchase, remortgage and existing customer products by up to 0.30%. Available from tomorrow (3 November 2026), the latest round of cuts means Barclays is now offering sub-5% two- and five-year fixed mortgage rates again.
In its residential purchase range, a two-year fixed rate is decreasing from around 5.15% to around 4.95% for those with a 40% deposit, with a five-year equivalent product down from around 5.15% to just below 5%. Both products come with an £899 arrangement fee.
Aaron Strutt, product director at Trinity Financial, says: "Halifax has announced it is lowering some of its remortgage rates. The bank has reintroduced its 3.99% two-year tracker, which is available to home buyers borrowing up to £1 million with a 40% deposit, and it has a £1,499 fee.
"Barclays still has a 3.99% base rate tracker from Premier customers earning over £75,000 with a £999 fee and a 40% deposit requirement. It will be interesting to see what the Bank of England’s Monetary Policy Committee does at its meeting on Thursday. Even if the base rate does go up as expected, the best trackers will still undercut fixed rates by quite a big margin."
Halifax has the most competitively priced two-year and five-year fixes, both priced just below 4.8% for its premier current account holders. Both rates have a £999 fee and borrowers need a 40% deposit to qualify. Some lenders still offer sub-5% fixes, but there aren't that many to choose from.
Representative Example: A capital and interest mortgage of £500,000 payable over 30 years, initially on a 4.94% fixed rate until 02/02/2030 and then on a standard variable rate of 6.50% for the remaining 27 years would require 38 payments of £2,668.82 followed by 322 monthly repayments of £3,125.77. The total amount repayable would be £1,108,322.85.
This amount is illustrative and may vary, made up of the loan amount, plus interest (£608,864.89) and £999 (product fee), £225 (final repayment charge), £25 (completion fee). The overall cost for comparison is a representative 6.3% APRC.
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The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.
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