The lender made the 0.3% cuts to its Family Springboard products following announcement of the cut to stamp duty for first-time buyers.
As part of the changes it has also overhauled its buy-to-let range, amending 19 products.
Barclays Mortgages director Craig Calder (pictured) 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% loan-to-value (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.”
Selected product details include:
Purchase only
- 3.64% for two-year fixed, 95% LTV, £999 fee, for loans between £5,000 and £500,000
- 3.84% for two-year fixed, 95% LTV, £0 fee, for loans between £5,000 and £500,000
- 4.74% for five-year fixed, 95% LTV, £0 fee, for loans between £5,000 and £500,000
- 4.54% for five-year fixed, 95% LTV, £499 fee, for loans between £5,000 and £500,000
Family Springboard
- 2.49% for three-year fixed, 5% deposit, £0 fee, for loans between £5,000 and £500,000
- 2.69% for three-year fixed, 0% deposit, £0 fee, for loans between £5,000 and £500,000
