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.”

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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