Barclays Mortgages’ new 95% LTV Mortgage Guarantee Scheme products will be available for applications from Monday (19 April).
The bank has also announced some changes to its lending policy. Customers applying to borrow at greater than 85% LTV can benefit from a new maximum loan size on houses and flats.
For houses with a loan to value of more than 85%, the maximum loan has increased to £570,000. Meanwhile, for flats with a loan-to-value of more than 85%, the maximum loan has increased to £275,000. This is available to on all purchase applications (including first-time buyers).
The following products will be available for submission from Monday:
- 3.99% 2 Year Fixed, £0 fee, Loans £25k – £570k, 95% LTV
- 4.09% 5 Year Fixed, £0 fee, Loans £25k – £570k, 95% LTV
These products are unavailable on new-build properties.
A Barclays spokesperson said: “We are looking forward to supporting customers in their next steps as homeowners with the launch of two new 95% LTV products. These products are available under the Government’s Mortgage Guarantee Scheme and are open for applications from Monday.”