Barclays will this week introduce a range of new ‘residential and reward’ mortgage products.
The deals include 95 per cent LTV deals for first-time buyers purchasing in the new year.
Chancellor Philip Hammond announced the scrapping of stamp duty for FTBs buying property up to £300,000 in the Autumn Budget earlier today.
Highlights of the new deals, to be launched this Friday 24 November, include:
- 3.64 per cent 2 Year Fixed, 95 per cent LTV, £999 fee, £5k – £500k
- 3.84 per cent 2 Year Fixed, 95 per cent LTV, £0 fee, £5k – £500k
- 4.74 per cent 5 Year Fixed, 95 per cent LTV, £0 fee, £5k – £500k
- 4.54 per cent 5 Year Fixed, 95 per cent LTV, £499 fee, £5k – £500k
- 2.49 per cent 3 Year Fixed, 5 per cent deposit, £0 fee, £5k – £500k
- 2.69 per cent 3 Year Fixed, 0 per cent deposit, £0 fee, £5k – £500k
Barclays Mortgages director Craig Calder says: “Stamp Duty is one of the largest financial hurdles first time buyers have to face and the changes announced in today’s 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 per cent 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 per cent and 0 per cent 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.”
The range will also include deals for remortgage, buy-to-let and tracker products.