Barclays launches first no-deposit mortgage since credit crisis

Barclays has become the first high street bank since the the financial crash of 2007-2009 to offer a 100% loan-to-value mortgage product.

Barclays: case study video promoting Family Springboard Mortgage
Barclays: case study video promoting Family Springboard Mortgage

It is not putting big money behind marketing the Family Springboard Mortgage, with no plans for TV ads, but it has allocated budget to online video.

While it is some time since 95% LTV mortgages started being offered again in the wake of the credit crisis, the Barclays product made headlines today as the media recalled the days of Northern Rock’s infamous 125% ‘Together’ mortgage.

Instead of a deposit, Barclays still requires a ‘family helper’ to put a sum equal to 10% of the purchase price of the property it lends on into a Barclays savings account. This money will be locked up for three years, earning interest at the Bank of England base rate plus 1.5%, but offers the bank security if the borrower does not make mortgage repayments.

Martin Bevan, head of marketing strategy for Barclays’ mortgage business, said: "We’re promoting the product online with a case study video of customers who have used [a previous Family Springboard Mortgage product].

"We’ve invested in Facebook ads and YouTube pre-roll ad to get the video in front of a wider audience."

Become a member of Campaign from just £46 a quarter

Get the very latest news and insight from Campaign with unrestricted access to ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content


1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).