FT Advisor: Barclays rate reductions 'beacon of hope':

Barclays has announced a series of rate cuts, such as reducing its 5-year fixed, 60 per cent LTV product from 4.77 percent to 4.32 per cent in its remortgage range, and its product purchase equivalent being reduced from 4.47 per cent to 4.34 per cent.

Barclay's recent mortgage rate cuts are a 'beacon of hope for many borrowers', Brooklyns Financial director, Harps Garcha, has argued. Garcha said, with Barclays taking the lead and making "substantial" reductions, it's a "welcome relief to witness some of the financial strain being lifted"

She described the announcement as a "potentially pivotal moment" where the domino effect of one lender's positive actions could inspire more widespread cuts across the industry".

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