Barclays Mortgages has launched new residential and rewards mortgage products, including a range of 95% LTVs for first time buyers purchasing in the New Year.
New deals include the following:
Purchase only
- 3.64% two-year fixed, 95% LTV, £999 fee, £5k – £500k
- 3.84% two-year fixed, 95% LTV, £0 fee, £5k – £500k
- 4.74% five-year fixed, 95% LTV, £0 fee, £5k – £500k
- 4.54% five-year fixed, 95% LTV, £499 fee, £5k – £500k
Family Springboard
- 2.49% three-year fixed, 5% deposit, £0 fee, £5k – £500k
- 2.69% three-year fixed, 0% deposit, £0 fee, £5k – £500k
Craig Calder, director of Barclays Mortgages, said: “Stamp Duty is one of the largest financial hurdles first time buyers have to face and the changes announced in [the] Autumn Budget will be a hugely positive and welcome boost for many first time buyers looking to purchase a property in the New Year.
“We know how important it is for our customers to get on the property ladder or to move home; and to support the momentum in helping greater numbers of first time buyers move forward, Barclays Mortgages has launched a number of new and reduced 95% LTV mortgage products.
“The Barclays Family Springboard Mortgage will have greater appeal with the interest rate reduced by 30 basis points on both the 5% and 0% deposit options; and effective from 1 December, the deposit contribution made by the family member held in the Helpful Start account for a period of three years will benefit from the recent interest rate increase of 25 basis points.”