Barclays is now part of the ongoing mortgage rate war, offering homeowners in Sussex a compelling opportunity with its latest two-year fixed-rate deal below 5%. This move follows the recent trend set by other major lenders, including Nationwide, Halifax, and HSBC, all unveiling sub-5% offerings in the past week.

For those in Sussex, Barclays introduces a remortgage deal at 4.98%, coupled with a £999 fee, catering to customers with 40% equity in their homes. Additionally, for prospective homebuyers with a 40% deposit, Barclays presents a competitive rate of 4.8% with an £899 fee. These enticing rates are set to take effect from Friday, 17th November.

This surge in sub-5% fixed mortgages is a positive development for Sussex homeowners, providing them with increased flexibility, especially with the availability of more two-year fixed-rate options. The market now boasts 27 lenders offering sub-5% fixed mortgages, marking a significant increase from the 13 available at the start of October.

Gareth Glover of Blue and White Mortgages said: “It’s heartening to witness more affordable mortgages emerging in the market, especially with the resurgence of two-year fixed-rate options priced below 5%. This development is particularly advantageous for those who prefer not to commit to a more extended fixed-term agreement. Major lenders’ substantial reduction in fixed mortgage rates signifies a positive trend, fuelling expectations for further cuts in the weeks ahead.”

Posted on: November 17, 2023, by : Gareth