Barclays sweetens new build and shared ownership deals

Money, cash

Barclays has sweetened criteria for mortgages aimed at shared ownership and new build buyers.

The lender has raised its new build house purchase LTV from 85 to 90 per cent on houses for loans up to £500,000.

Flats and maisonettes will remain at the current maximum LTV of 85 per cent.

Barclays has also increased its LTV cap on shared ownership loans from 85 per cent to 95 per cent on amounts up to £500,000.

The lender is also raising its cap on like-for-like shared ownership remortgage applications from 85 per cent to 90 per cent LTV.

Barclays is also removing its £10,000 minimum annual bonus threshold for residential and buy-to-let loans.

The lender will now accept 50 per cent of applicants’ sustainable annual bonus for affordability.

Legal & General Mortgage Club new build manager Craig Hall says: “This news provides further choice to customers that are seeking to purchase a new build house with a larger deposit without requiring the support of the Help to Buy scheme.”



Former Barclays boss joins Hargreaves Lansdown

Hargreaves Lansdown has hired former Barclays retail banking boss and fintech expert Deanna Oppenheimer as its new chair. Oppenheimer will replace Mike Evans when he retires from the board as non-executive chairman on February 7. Oppenheimer also has non-executive directorships at Tesco, Whitbread, Axa and Worldpay and was previously in charge of retail banking at Barclays. […]


Case study: administration — managing group life schemes

Our client leads the global market in high-tech electronics manufacturing and digital media. The trustees of the company’s final salary pension scheme insure death-in-service lump sum and dependants’ pension death benefits for active employees, as well as dependants’ pension benefits for deferred members (those who have left service).


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Corby Macdonald 6th March 2018 at 10:54 am

    Hooray, I have be bleating about this for ages and the message is finally sinking in. We are saying we need to build over 300,000 new homes per year, but, a large proportion of our archaic main street lenders will only go to 85% LTV on new builds, forcing a lot of would be buyers out of the picture. Well done Barclays, now hopefully some of the others will follow