The move is intended to make homeownership more affordable, especially for first-time buyers, and is applicable on properties with a maximum value of £600,000.
The bank said that prior to this introduction, a borrower would have needed a £60,000 deposit for a £600,000 property. Now, the deposit amount can be halved to just £30,000.
Barclays said all of its residential 95% LTV rates can be used.
Lee Chiswell, head of mortgages at Barclays, said: “We’ve been incredibly focused this year in making homeownership affordable, from the introduction of innovative propositions like Mortgage Boost to tweaked lending criteria allowing us to safely lend more to help customers achieve their ambitions.
“Raising the maximum LTV for new-build houses is yet another initiative that I’m proud to say will help people who may previously not have had enough for a deposit on their dream home.”
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