Barclays set to launch 95% LTV Mortgage Guarantee Scheme products
Barclays is set to launch 95% loan-to-value (LTV) Mortgage Guarantee Scheme products from 19 April.
Notable products include a 2-year fix at 3.99% and a 5-year fix at 4.09%. Both deals are fee free and include a maximum loan value of £570,000.
These products are not available on new-build properties.
The lender has also amended its lending policy; customers applying to borrow at greater than 85% LTV can benefit from a new maximum loan size on houses and flats.
For houses with an LTV of more than 85%, the maximum loan has increased to £570,000, while for flats with an LTV of more than 85%, the maximum loan has increased to £275,000.
This is available to on all purchase applications, including first-time buyers.
A Barclays spokesperson said: “We are looking forward to supporting customers in their next steps as homeowners with the launch of two new 95% LTV products.
“These products are available under the government’s Mortgage Guarantee Scheme and are open for applications from Monday.”