Barclays new range of shared equity products to support the London Help to Buy scheme will be available from Saturday 30 January in time for the official launch of the scheme from 1 February.

Barclays package of new 2 and 5 year fixed rate products and fee free options is designed to help morehard-working first time buyers to achieve their ambition of home ownership in the capital and supporting those needing to move to their next home.

  • 2 year fixed rate at 1.55 per cent with £999 fee
  • 2 year fixed fee free at 1.85 per cent
  • 5 year fixed at 2.19 per cent with a £999 fee
  • 5 year fixed fee free at 2.49 per cent

Introduction of Barclays new Help To Buy London products will be available to qualifying borrowers buying a property in the London Boroughs who will be able to apply for an equity loan of up to 40 per cent LTV from the Help to Buy scheme.

Homebuyers and Movers will need to provide a 5 per cent deposit, meaning that a 55% LTV mortgage is required. The maximum loan will be £330,000 and will have an extended end date of June 2018 / June 2021 respectively.

Craig Calder, Director of Mortgages for Barclays, said: 'Our new range of shared equity products to support the London Help to Buy schemeis designed to help morehard-working first time buyers to achieve their ambition of home ownership in the capital, and supporting those needing to move to their next home.

'The gap between income and house prices is at its widest in London, which is why Barclays is committed to supporting the new 'London Help to Buy' initiative and providing other innovative ways to help even more people to afford a home in London.'

Alongside the new Help To Buy London products, Barclays will continue to help First Times Buyers nationally with their existing Help to Buy 75 per cent LTV products, Family Springboard and Help to Buy ISA.

For further information on Barclays mortgages visitwww.barclays.co.uk/mortgages

House hunters can download theBarclays Homeowner app to find a dream home, calculate borrowing and for direct access to estate agents and mortgage specialists

About Barclays

Barclays is an international financial services provider engaged in personal, corporate and investment banking, credit cards and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays' purpose is to help people achieve their ambitions - in the right way.

With 325 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .

Barclays plc issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 January 2016 12:49:20 UTC

Original Document: http://www.newsroom.barclays.com/r/3297/barclays_launches_london_help_to_buy_equity_loan_products