Barclays cuts prices by up to 0.29%, lowest rate at 3.70%, Suffolk Bank cuts rates – Mortgage Strategy

Barclays has lowered interest rates by 0.29%, with the current lowest interest rate at 3.70%.

With a fixed loan-to-value (LTV) of 60% for the first three years of purchase, the product fee is £899, which has been reduced from 3.97% to 3.70%.

It has also cut the interest rate on a three-year fixed at 75% LTV (with no fees) from 4.14% to 3.85% and on a three-year fixed at 60% LTV (with no fees) from 4.12% to 3.84%.

Barclays has cut its five-year fixed rate at 60% LTV and a fee of £899 from 3.81% to 3.78%, and its five-year fixed rate at 60% LTV and a fee of £899 from 3.82% to 3.79%.

These loans have a minimum loan amount of £5,000 and a maximum loan amount of £2 million.

The bank’s remortgage rates have also been cut. These include a fixed three-year term at 60% LTV with a fee of £999, which has been reduced from 3.90% to 3.75%, and a fixed three-year term at 75% LTV with a fee of £999, which has been reduced from 4.03% to 3.86%.

In addition, existing customer reward ranges have also been reduced in price. The residential EMC incentive is fixed at 60% LTV for three years and costs £999, which has been reduced from 3.90% to 3.74%; the three-year EMC incentive is fixed at 75% LTV and costs £999, which has been reduced from 4.03% to 3.85%.

The minimum loan amount for both is £1,000 and the maximum loan amount is £2 million.

Elsewhere, Suffolk Building Society has cut prices on seven fixed-rate C&I and interest-only Resi mortgages by up to 20 basis points.

The two-year fixed rate product will have an extended end date to ensure borrowers benefit from the full two-year fixed term.

Within the social 80% LTV residential range, the two-year fixed C&I has been reduced by 16 basis points to 4.79%, and the two-year fixed IO has been reduced by 16 basis points to 4.99%.

90% LTV residential two-year fixed C&I fell 10 basis points to 4.99%, and five-year fixed C&I fell 10 basis points to 5.05%.

Additionally, 95% LTV residential two-year fixed C&I has been reduced by 10 basis points to 5.25%.

Charlotte Grimshaw, head of agencies at Suffolk Building Society, said: “As the final weeks of 2025 approach, we are delighted to be able to deliver further rate reductions, this time across our residential range including 95% LTV products. This follows last week’s price reductions in two of our niche markets, self-build and expatriate BTL.”

“Today’s rate cut will be welcomed by the FTB, those focusing on intergenerational lending, older borrowers and others.”

“After all the recent uncertainty, any reduction in interest rates is welcome. We hope that our latest rate cut will provide some additional confidence as we head into the new year – particularly with the prospect of a cut to the base rate on Thursday.”