Mortgages  

Barclays introduces New Build range and cuts rates

Barclays introduces New Build range and cuts rates

Barclays is introducing a selection of new residential mortgage products as well as reducing rates on a further 13 mortgage products, to help more first-time-buyers own a home of their own.

From tomorrow (19 January), the bank will launch a New Build range with two and five-year fixed rates and a two-year tracker, available for purchases of flats and houses at 85 per cent loan-to-value.

It has also improved the Help to Buy range, with two and five-year fixed rates and two-year trackers, available at 75 per cent LTV.

Article continues after advert

Meanwhile, rate reductions have been made across Barclays’ three, five and 10-year fixed and tracker rates on residential mortgages, with LTVs ranging from 60 per cent to 90 per cent.

Barclays’ director of mortgages Craig Calder 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, either in the capital or elsewhere in the UK.”

Bob Riach, managing director of Scunthorpe-based Riach IFA, commented: “Barclays are often competitive in the mortgage market place, however when competing my research I normally find a couple of lenders with slightly better deals.”

Product

LTV (%)

Old Rate

New Rate

Application Fee

Min Loan

Max Loan

Fixed Rates

3 year fixed

70

2.18%

2.09%

£999

£5,000

£1,000,000

3 year fixed

75

NEW

2.15%

£999

£5,000

£1,000,000

3 year fixed

80

2.49%

2.29%

£999

£5,000

£1,000,000

3 year fixed

90

3.49%

2.99%

£999

£5,000

£500,000

5 year fixed

60

2.34%

2.25%

£999

£5,000

£1,000,000

5 year fixed

75

2.74%

2.65%

£999

£5,000

£1,000,000

5 year fixed

80

2.89%

2.73%

£999

£5,000

£1,000,000

5 year fixed

85

3.19%

2.99%

£999

£5,000

£1,000,000

5 year fixed

90

3.54%

3.39%

£999

£5,000

£500,000

10 year fixed

80

3.25%

2.99%

£999

£5,000

£1,000,000

Remortgage Only - Premier Exclusives

Prem 5 year fixed

60

2.29%

2.19%

£1,999

£5,000

£1,500,000

Help To Buy 1

2 year fixed

75

NEW

1.85%

£999

£25,000

£450,000

5 year fixed

75

NEW

2.65%

£999

£25,000

£450,000

2 year tracker

75

NEW

1.49%

£999

£25,000

£450,000

New Build

2 year fixed

85

NEW

2.09%

£999

£5,000

£1,000,000

5 year fixed

85

NEW

3.09%

£999

£5,000

£1,000,000

2 year tracker

85

NEW

2.04%

£999

£5,000

£1,000,000

Tracker

2 year Tracker

80

peter.walker@ft.com