Barclays unveils details of Help to Buy 2 products

Barclays has become the latest bank to reveal details of its Help to Buy mortgage guarantee products.

The deals, which are part of the government scheme incentivising high LTV lending, are made up of a three year fixed rate product at a rate of 5.35 per cent and a five year fixed rate at 5.49 per cent. Prospective homeowners can borrow between 90 and 95 per cent of the value of the property and there is no application fee. The minimum that can be borrowed is £50,000 and the max is £570,000.

Andy Gray, managing director of mortgages for Barclays, said: “We’re pleased to be joining the Government’s Help to Buy mortgage guarantee scheme and supporting first-time buyers and home movers to get on, or move up, the housing ladder. This builds on our existing and on-going participation under the Help to Buy equity scheme.

Barclays joins Santander, Lloyds, RBS, Virgin Money, Halifax, Aldermore, Natwest and HSBC who currently have products available through the Help to Buy mortgage guarantee scheme.

The Barclays product will be available from Tuesday January 21^st.