Barclays unveils new FTB and homemover deals

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Barclays is tomorrow cutting residential rates and launching new products for first-time buyers and homemovers.

The lender says it wants this to tie in with the start of the traditional Spring house purchase season.

The changes include three new FTB purchase fixed rate loans with high LTVs and no fees.

The first is a 1.98 per cent two-year fixed rate at 85 per cent LTV.

The second is a 3.94 per cent two-year fixed rate at up to 90 per cent LTV.

The third is a 2.29 per cent two-year fixed rate at up to 90 per cent LTV.

All have £500 cashback and are available on loans between £5,000 and £250,000.

Barclays is also launching two seven-year mortgages due to more homemovers choosing longer-term mortgages.

These start from 2.19 per cent up to 60 per cent LTV with a £999 product fee.

The loans are aimed at purchase and remortgage customers on loans between £5,000 and £1m.

Barclays Mortgages managing director Hannah Bernard says: “Spring is traditionally a period of increased house buying activity and providing competitive rates will enable more first time buyers and those with smaller deposits to get on, and move up, the property ladder, as well as helping those looking to remortgage to achieve further savings.”

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