Barclays loyalty mortgages 'offer the most competitive interest rates'

Date:Friday 27th August 2010
Author: Max Freedman

A finance expert from Barclays has explained that it is aiming to give the best rates to the most deserving customers with its new loyalty mortgages.

Head of mortgages at the company Andy Gray explained that these discounts supplement the competitive arrangements already on offer to new and existing customers.

Barclays loyalty mortgages will be available from September 1st 2010 and will offer clients of any of the firm's current accounts preferential interest rates.

"What this new scheme means is that our current account customers will now always have access to discounted rates in our range, as a reward from us to them for their loyalty," said Mr Gray.

Customers taking advantage of this new initiative could benefit from a reduction of up to 0.54 percentage points on what a typical client would have to pay for their mortgage.

Last month, Mr Gray claimed its new drop-lock facility can offer customers peace of mind about any changes to the base rate.