Barclays is introducing a selection of new residential mortgage products, and reducing rates on a further 13 mortgage products, to help more first-time buyers own a home of their own.
From mid January, the bank offered 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 its Help to Buy range, with two and five-year fixed rates and two-year trackers available at 75 per cent LTV.
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 Lincolnshire-based Riach IFA, commented: “Barclays are often competitive in the mortgage market place. However, when completing my research, I normally find a couple of lenders with slightly better deals.”
Product | LTV (%) | Old rate | New rate | Application fee | Minimum loan | Maximum 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 | ||||||
Premier 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
