Barclays launches loyalty mortgage discounts

Barclays customers can now get better mortgage rates as the bank launches its first loyalty mortgages.

Customers who have a current account with the bank will be rewarded for their loyalty with a reduction of up to 0.54 per cent off selected tracker, fixed-rate and offset mortgages.

A two-year fixed-rate mortgage at 2.95 per cent for deals up to 70 per cent loan to value LTV is available which is 0.54 percent below the bank's standard mortgage rates.

Andy Gray, head of mortgages for Barclays, said that the company is always looking to offer competitive mortgage rates and feel that their current customers are the most deserving of cheap mortgage rates.

He added: "These loyalty rates supplement the competitive mortgage deals available to new and existing customers from our standard range."

Barclays customers could save up to £922 in the first two years of their mortgage alone thanks to the new loyalty rates.

In July Barclays launched a drop-lock facility which gives new tracker and offset customers to option to switch to a fixed-rate mortgage in the future with no early repayment charge.
 

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2010-09-08 13:13:11 © Moneyextra.com