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Barclays launches loyalty mortgages

26th August 2010 | back to article listings BACK    print this article PRINT

Barclays has launched a range of mortgages that offer improved deals to customers who hold a current account with the bank.

The new loyalty mortgages are available on selected tracker, fixed rate and offset home loans for customers who have held a current account for a minimum of three months with at least £800 per month transferred in.

A two-year fixed-rate mortgage is available at 2.95% for those with at least a 30% deposit. Barclays says the deal is 0.54% below the its standard offering and lower than the current best fixed rate from HSBC.

For those with only a 20% deposit, the interest rate on offer is 4.19%, which is an improvement of 0.19% on the lender's normal rate.

Based on an average mortgage of £135,000, Barclays says the discounts could save customers £922 in the first two years of their mortgage.

Andy Gray, head of mortgages for Barclays, said: "We are always looking at how we can offer the most competitive mortgage rates we can and the most deserving people for these are our existing customers."

Copyright © Press Association 2010

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