Barclays launches its 95% Mortgage Guarantee Scheme products
Barclays have today announced their Mortgage Guarantee Scheme products, backed by the Government.
The 95% LTV products available for submission from Monday are a 3.99% 2-year fixed rate and a 4.09% 5-year fixed rate. Both have £0 fee on loans between £25k - £570k.
In addition to these new products, the bank have also announced changes to lending policy. From Friday 16th April, customers applying to borrow at greater than 85% LTV can benefit from a new maximum loan size on houses and flats - for houses the max loan is now £570,000 and for flats £275,000.
This is available on all purchases, including for 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.”
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