Barclays is adding two NewBuy mortgages to its product range tomorrow and cutting the rate on a four-year fix up to 90 per cent LTV by 0.2 per cent.
A three-year NewBuy product is being added to the range with a rate of 4.75 per cent. A five-year NewBuy mortgage will also become available at 4.95 per cent. The loan sizes on both products range from between £5,000 and £475,000.
Both NewBuy mortgages require a £499 application fee.
The rate on the four-year fix up to 90 per cent LTV is being cut from 6.19 per cent to 5.99 per cent from Thursday. Loan sizes range from between £25,000 and £500,000 and an application fee of £999 applies.
Barclays managing director of mortgages Andy Gray says: “We are continuing to look for ways in which we can boost the UK mortgage market, giving homebuyers access to even better mortgage deals. Today’s changes are particularly designed to help first time buyers, cutting the rate on our higher LTV mortgages and also launching a new range of NewBuy products.”