Barclays has unveiled a selection of new residential mortgage products and reduced rates on a further 13 mortgage products.

It said the rate cuts are designed to help more first-time buyers afford a home of their own.

The bank has also launched a unique new build range with two and five-year fixed rates and a two-year tracker flats and houses at 85% TV. 

Barclays has improved its Help to Buy mortgage range with two and five-year fixed rates and two-year trackers available at 75% LTV.

It has also made rate reductions across its three, five and 10 year fixed and tracker rates on residential mortgages, with LTVs ranging from 60% to 90%.

Craig Calder, director of mortgages for Barclays, said: “This package of new products and rate reductions is designed to help more hard-working first time buyers to achieve their ambition of home ownership.

“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, either in the capital or elsewhere in the UK.”