Notifications can be managed in browser preferences.Jump to contentIndependentSwipe for next articleIndependent Bulletin homepageDownload our appAllNewsSportCultureLifestyleKarl MatchettFriday 01 May 2026 08:55 BSTWhat steps can homeowners worried about mortgage rate rises consider?Barclays has become the first major bank to reintroduce a mortgage deal with a rate below 4 per cent, offering 3.96 per cent for a two-year fixed period, following a surge in swap rates caused by the Iran war.This specific 3.96 per cent deal is exclusively available to Barclays' premier customers, who must either earn £75,000 annually or hold at least £100,000 in savings or investments with the bank.The reintroduction comes after a period where hundreds of sub-4 per cent mortgage products were withdrawn from the market due to increased swap rates, impacting homeowners and new buyers with higher prospective repayments.Barclays has also adjusted other offerings, including a two-year tracker mortgage for new purchases at 3.96 per cent and a five-year fixed remortgage deal at 4.8 per cent, both with a £999 product fee.Experts caution that average monthly repayments for new mortgages are 50 per cent higher than in January 2022, with potential for further interest rate rises, advising homeowners approaching renewal to seek guidance due to ongoing market uncertainty.In fullBarclays is first bank to bring back sub-4% mortgage deal – but it’s not for everyoneThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in