Barclays UK Brings back the 100% Mortgage
Barclays has brought back the 100% mortgage- the first major bank to do so ever since the last financial crisis. First time buyers can now get a three year fixed rate deal at 2.99% per annum without putting up their own cash. Previously buyers needed to give the bank at least a 5% cash deposit based on the purchase price.
“Barclays has brought back the 100% mortgage- the first major bank to do so ever since the last financial crisis.”
~ The Guardian
Barclays has revamped its ‘family springboard’ mortgage, removing the need for those buying their first home or home-movers to put down a penny in advance. A ‘helper’ has to put cash equating to 10 per cent of the house purchase price into a Barclays savings account and keep it there for three years. They will then get their money back, plus any interest accrued, providing their child has kept up with the mortgage repayments.
About Barclays UK
Barclays UK is a personal and business banking franchise with true scale, built around our customers’ needs with innovation at its core. It comprises our UK retail banking operations, our UK consumer credit cards business, our UK-based wealth offering, and corporate banking for smaller businesses. With around 22 million retail customers, and almost one million business banking clients, we are a pre-eminent UK financial services provider. This division will become our UK ring-fenced bank by 2019.
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