Barclays is making the following changes to the lending policy to make it easier for you and your client to do business with us:
- Barclays is extending the maximum LTV on residential re-mortgages, where there is additional borrowing required, up to 85%.
- For existing Barclays mortgage customers (excluding Buy to Let) requesting a Further Advance (additional borrowing), we will now lend up to a maximum LTV of 85%.
- For re-mortgage and part staircasing on Special Schemes, we will now lend up to a maximum LTV of 85%* of the share owned for Shared Equity and Shared Ownership clients.
- For Help to Buy Equity Loan clients a maximum LTV of 85%* of the current market value applies, whether the Equity loan is due to be repaid in part or full.
- For Shared Equity clients fully repaying the Equity loan, or Shared Ownership clients staircasing to 100% ownership, we will lend up to a maximum of 90%* LTV.
*Where any additional borrowing is to be used for Debt Consolidation, the maximum LTV is limited to 80% in all instances.
Buy to Let Remortgaging
- We are changing the minimum period a borrower must have owned their property before a BTL re-mortgage is considered. As of today, the applicant must have owned the property for a minimum of 6 months before a re-mortgage will be considered. This is a reduction from our previous requirement of 12 months.
To find out more about these opportunities with Barclays, please refer to our updated Rate Sheets and Lending Criteria section on the Intermediary website.
