Barclays launches 90% LTV deals

Barclays is set to increase the maximum LTV of its Woolwich mortgage fixed rate range to 90% LTV from tomorrow.

The 90% LTV range will include a fee-free three-year fixed rate at 4.99% and a five-year fixed rate at 5.49%.

The five-year fix has no application fee for customers who qualify for a Barclays Loyalty mortgage and a £499 fee for all other borrowers.

All the deals revert to a lifetime tracker of 3.39% above base after the fixed rate period ends, while all the 80% and 85% LTV mortgages will be maintained at their current rates.

The 90% LTV range is open to home movers, first-time buyers and remortgagers.

Andy Gray, head of mortgages for Barclays, said: “As one of the UK's largest lenders we recognise the importance of supporting the first-time buyer market which is why we've committed today to extend our lending to 90%.

"Higher LTV mortgages with more competitive rates have started to come through the market this year and our deals are sitting well below the average rates to encourage homebuyers and remortgage customers alike to get some great fee-free mortgages.”

Barclays' minimum loan size at 90% LTV will be £50,000, with a maximum loan size of £500,000.