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Barclays confirms London Help to Buy mortgage rates

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  • 29/01/2016
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Barclays confirms London Help to Buy mortgage rates
Barclays has become the latest in a raft of lenders to announce details on its launch into the Help to Buy London: equity loan scheme from the 1 February start date.

Aldermore, Bank of Scotland, Halifax, Leeds BS, Lloyds, Nationwide, NatWest, Royal Bank of Scotland and Teachers BS will also be lending against the scheme from launch.

The Help to Buy London scheme was announced in Osborne’s Autumn Statement last year in a bid address the affordability issues of first-time buyers in the capital.

The two-and five-year fixed rate range starts at 1.55% for a two-year fixed rate with a £999 fee, or 1.85% with no-fee. The five-year fix is offered at 2.19% with the £999 fee, or 2.49% without. The bank whas a maximum lending cap of £333,000.

Craig Calder, director of mortgages for Barclays, said: “The gap between income and house prices is at its widest in London, which is why Barclays is committed to supporting the new ‘London Help to Buy’ initiative and providing other innovative ways to help even more people to afford a home in London.”

Barclays is already offering Help to Buy: equity loan nationwide.

Nationwide announced the rates on its fixed and tracker range earlier this week, including a two-year fixed rate mortgage at 60% loan-to-value (LTV) starting at 1.89% with a £999 fee and a 2.29% with no fee.

Leeds Building Society also announced rates this week, which include a two-year fixed rate at 1.79% with a £799 fee and a five-year fixed rate at 2.45% with a £199 fee, both with free valuations.

 

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