Barclays to launch 95% ltv family deposit mortgage

Aaron Strutt Image
Barclays is launching a 5% deposit mortgage to help first-time buyers whose parents are looking to help them get on the property ladder. From Monday, Barclays will be offering a leading 5% deposit mortgage fixed for three-years at 4.69%. It will have a low £499 arrangement fee. Aaron Strutt, a broker at Trinity Financial, says: “The Family Springboard Mortgage offers first-time buyers a great rate, although parents will need to put a 10% deposit into a Barclays savings account. Providing the account is not in arrears and repayments are not missed, they will get their money back in three years. “There is little doubt that this mortgage will be popular as parents will like the idea of being able to access their savings again.” January 11, 2013
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