"The Barclays Family Springboard Mortgage will have greater appeal with the interest rate reduced by 30 basis points on both the 5% and 0% deposit options"
New three-year fixed rate Family Springboard products have been reduced by 30bps and are now available from 2.49% with a 5% deposit or 2.69% with no deposit, both fee-free.
New 95% LTV two-year fixed rate products are available from 3.64%, while five-year fixed rates start from 4.54%.
Craig Calder, director of Barclays Mortgages, said: “Stamp Duty is one of the largest financial hurdles first time buyers have to face and the changes announced in today’s Autumn Budget will be a hugely positive and welcome boost for many first time buyers looking to purchase a property in the New Year.
“We know how important it is for our customers to get on the property ladder or to move home; and to support the momentum in helping greater numbers of first time buyers move forward, Barclays Mortgages has launched a number of new and reduced 95% LTV mortgage products.
“The Barclays Family Springboard Mortgage will have greater appeal with the interest rate reduced by 30 basis points on both the 5% and 0% deposit options; and effective from 1 December, the deposit contribution made by the family member held in the Helpful Start account for a period of three years will benefit from the recent interest rate increase of 25 basis points."
