Barclays will launch into Help to Buy London from Monday when the scheme officially kicks off.
Products include 2-year fixes at 1.55% with a £999 fee and 1.85% with no fee, while 5-year fixes are available at 2.19% with a £999 fee and 2.49% with no fee.
Under the terms of the scheme borrowers can put down a 5% deposit and get an interest-free loan from the government of up to 40% of the property’s value.
Craig Calder, director of Mortgages for Barclays, said: “Our new market leading range of shared equity products to support the London Help to Buy scheme is designed to help more hard-working first-time buyers to achieve their ambition of home ownership in the capital, and supporting those needing to move to their next home.
“The gap between income and house prices is at its widest in London, which is why Barclays is committed to supporting the new ‘London Help to Buy’ initiative and providing other innovative ways to help even more people to afford a home in London.”
Alongside the new Help to Buy products Barclays will continue offering its existing 75% LTV Help to Buy mortgages.