Barclays launches 90% LTV fixed-rate deals
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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.
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