Exact amount of time homeowners have to to lock in mortgage rates early as another major lender shortens window [Video]

BARCLAYS has become the latest major lender to make significant changes to its mortgages.

The high-street bank has shortened the amount of time customers have to lock in a new interest rate ahead of their current deal ending.

So, if you are a mortgage holder nearing the end of your fixed term, the clock is ticking to negotiate a new offer.

The length of time a borrower with Barclays has to secure a new fixed term deal has dropped from six months to three.

This is in line with similar moves by Halifax, Lloyds, Nationwide, and Santander in recent months. 

The changes at Barclays will come in from September 25, and apply to customers who already hold a mortgage product with the bank and are looking to switch to another deal.

Choosing a new deal before your current ones ends means you can secure a good …