Barclays cuts Help to Buy mortgage rates.
The Help to Buy mortgage initiative is a Government scheme launched last month to help more cash strapped borrowers purchase property.
Finding a mortgage deposit is something that is proving difficult for many, and so the Government has reacted with a scheme, where with as little as 5% as a deposit you can buy a home.
With a Help to Buy equity loan, would-be home-owners with a 5% deposit can borrow 20% of the property purchase price from the government. The loan is advanced on an interest free basis for the first 5 years, and could help many more climb on the housing ladder or move to a larger home.
It is being predicted a likely success by some, whereas others express concern that it could lead to inflated property price increases and a future housing bubble.
Help to Buy mortgage rates are reduced by 0.5% by Barclays.
Barclays are one lender signed up to the scheme. For 75% loan to value a 3 year fixed Help to buy mortgage is available at 3.89%, which is 0.5% reduction. A 5 year fixed rate deal is also available at 4.99% for the same loan to value level.
In addition to cutting its Help to Buy mortgage rates, Barclay's has also released its lowest ever 5 year fixed rate mortgage at 2.88% for 60% loan to value with a £999 fee.
Various other fixed rates have been also reduced, for a Barclays product review and a low rate, quote call an adviser at Deal Direct on 0800 048 8828.
We will review all products market-wide to find the most competitive deal at your deposit level.
Whatever kind of mortgage you are looking for
call Deal Direct for a quote.
