Mortgage News
Barclays to refresh high LTV and Help to Buy ranges
Barclays will cut rates on fixed products starting from 85% loan-to-value as well as adding Help to Buy products for the equity loan and mortgage guarantee schemes, from tomorrow.
At 85% LTV the two-year fixed rate will be cut to 3.28%, a reduction of 0.41%, which two fee options.
For existing customers the fee is £499 while new customers must pay £999.
Two options have been introduced to the 90% LTV range. A two-year fixed rate at 4.19% is now available with a £999 fee while the five-year fix at 4.99% carries a fee of £499.
The Help to Buy range will be bolstered with an equity loan product at 3.19% up to 75% LTV and a mortgage guarantee option of 4.99% up to 95% LTV. Neither products have a fee.
Andy Gray, managing director of mortgages for Barclays, said: “We are delighted to announce a number of rate cuts for customers with smaller deposits which will help them onto or move up the property ladder.
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“This year we have seen the property market continue its steady recovery which has been boosted by first-time buyers and those looking for their next home.
“Demand from first-time buyers looks set to continue and by lowering our rates and offering two new fixed rates under the government’s Help to Buy schemes, we are looking to support more customers realise their dream of owning their own home.”