View more on these topics

Barclays changes income multiple criteria

Barclays has made a change to its income multiple criteria that, it says, will make it easier for customers to access higher income multiple mortgages.

Barclays has lowered the minimum income required for its five times income multiple criteria from £45,000 to £30,000, available up to a maximum 80 per cent loan-to-value. It says the change allows it to support customers whilst pursuing a prudent lending approach.

All other Barclays loan-to-income criteria is staying the same, including customers between 80.01 per cent and 85 per cent LTV requiring a minimum income of £45,000 to access a five times income multiple loans.

Different income multiples apply for Family Springboard mortgages where a maximum multiple of 5.5 times income applies for incomes above £50,000. A maximum multiple of 4.49 times income applies to Help To Buy customers.

Recommended

Barclays-Building-2012-480

Barclays makes cuts to residential fixed rates

Barclays is introducing changes to its residential fixed rates with new products launching tomorrow, 7 December. The changes impact products across the purchase and remortgage ranges, and include reductions to the longer fixed rate offerings. Within the purchase and remortgage range, the two-year fixed rate product with £1,999 product fee, 85 per cent LTV and […]

barclays-building-2012-700x450.jpg

Barclays unveils rate cuts and new product details

Barclays has announced a series of rate reductions amid product changes and a new residential remortgage product launch, coming into effect from tomorrow, Tuesday 27 November. The rate cuts will take place across the following fixed-rate residential purchase and remortgage products: The two-year fix at 60 per cent LTV will be cut from 1.59 per […]

Newsletter

News and expert analysis straight to your inbox

Sign up