| TL;DR: Barclays has reduced residential mortgage rates by up to 37 basis points (bps) across its fixed and tracker ranges, effective 19 June 2026. A three-year fix at 75% loan-to-value (LTV) with a £899 fee drops from 5.05% to 4.68%. Yorkshire Building Society has also cut selected two- and five-year fixed rates. Both moves follow easing swap rates and intensified lender competition. |
Last reviewed: 19 June 2026
Barclays cuts fixed mortgage rates by up to 37bps from 19 June 2026 as swap rates ease and lender competition intensifies.
What Barclays has changed
Barclays is applying reductions across residential purchase, remortgage and tracker products from 19 June 2026. The headline changes on fixed rates include:
- Three-year fix at 75% LTV, £899 fee: 5.05% to 4.68% (down 37bps)
- Springboard five-year fix, 100% LTV, no fee: 5.54% to 5.19% (down 35bps)
- Springboard five-year fix, 95% LTV: down 33bps to 4.99%
- Two-year fix at 60% LTV, £899 fee: 4.39% to 4.30%
- Two-year fix at 75% LTV, £899 fee: 4.74% to 4.50%
- Five-year fix at 60% LTV, £899 fee: reduced in the existing customer reward range to 4.65%
Barclays has also withdrawn its best-buy two-year tracker at 3.96%, replacing it with new tracker products including a Premier two-year tracker at 3.99% with a £999 fee at 60% LTV.
Yorkshire Building Society also moves
Yorkshire Building Society has reduced selected fixed rates alongside the Barclays announcement. Its two-year fix at 75% LTV for homebuyers now stands at 4.58%, down from 4.80%, with a £995 fee. A five-year fix at 85% LTV has fallen to 4.67% from 4.77%, with a £995 fee and a £250 loyalty cashback option available in applicable cases.
Why lenders are cutting now
The moves reflect falling swap rates rather than a change in the Bank of England base rate, which the Monetary Policy Committee held at 3.75% on 18 June 2026 on an 8-1 vote. Swap rates - the wholesale funding costs that drive fixed mortgage pricing - have eased in recent weeks as market expectations of further base rate rises have moderated following a ceasefire in the Middle East conflict and softer inflation data. UK CPI stood at 2.8% in May 2026, down from 3.3% in March.
NatWest, Santander, Halifax, Coventry Building Society, Gen H and TSB have all also reduced selected rates during June 2026. NatWest has cut three times in a fortnight.
Context for borrowers
Fixed mortgage rates remain substantially above their pre-2026 levels. Analysis cited by mortgage market observers suggests monthly repayments on a typical £250,000, 25-year mortgage are running close to £280 per month higher than before the early-2026 energy price shock. The base rate has been held at 3.75% throughout 2026 so far, following four cuts in 2025 that brought it down from 4.75%.
The Bank of England has signalled that while it is not rushing to raise rates, inflation risks remain, and the path of future decisions will depend on how global energy prices and UK growth develop in the second half of 2026.
Frequently asked questions
When do Barclays' new mortgage rates take effect?
The new rates are effective from 19 June 2026.
Do the cuts affect existing Barclays mortgage customers?
Barclays has also cut rates in its existing customer reward range. The EMC Reward five-year fixed at 60% LTV with a £999 fee falls from 4.71% to 4.65%.
Why are mortgage rates falling if the Bank of England has not cut?
Fixed mortgage rates are driven by swap rates, which reflect market expectations for the future path of Bank Rate rather than the current level. Swap rates have eased as inflation expectations moderated, allowing lenders to trim their fixed-rate pricing independently of any MPC decision.
