Barclays launches 90% LTV fixed-rate deals

Permalink: Barclays launches 90% LTV fixed-rate deals
by Gill Montia

Barclays is extending its range of fixed-rate mortgage deals to 90% loan-to-value (LTV) from today, and including a fee-free three-year fix at 4.99%.

The new range, offered by the bank’s Woolwich arm, also includes a 90% LTV five-year fix at 5.49%, with no application fee for customers who qualify for a Barclays Loyalty mortgage and a £499 charge for everyone else.

All the deals revert to a lifetime tracker of 3.39% above base rate once they come to an end.

Andy Gray, head of mortgages for Barclays, says: “As one of the UK’s largest lenders we recognise the importance of supporting the first-time buyer market which is why we’ve committed today to extend our lending to 90%.”

Higher loan-to-value mortgages with more competitive rates have started to come through the market this year.

The new Woolwich range means a typical first-time buyer can purchase a home at £150,000 with a mortgage of £135,000, paying £788.41 a month on the three-year deal fixed at 4.99%.

The offering is also available for home movers and those looking to remortgage, either through the lender’s branches, via the telephone or through brokers.

The minimum loan available at 90% LTV is £50,000 and the maximum £500,000.