As of tomorrow Barclays will offer a 4.75% 3-year fixed rate and a 4.95% 5-year fixed rate product for NewBuy customers. Both products are available for loans of up to 95% loan to value and have £499 product fees.
Andy Gray, managing director of Mortgages for Barclays, said: "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.”
Barclays will also be cutting the rates on its 90% LTV 4-year fixed rate mortgage from 6.19% to 5.99. The new rate will be available on loans of up to £500,000 and has an application fee of £999.
