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Lending 5 x salary is far too conservative for Barclays

From Simon Collis

I was amused to see that Barclays’ CEO John Varley is not interested in lending 5 x salary (Mortgage Strategy January 15). That must be because it’s far too conservative for Barclays.

If you ring Barclays for a pre-approved mortgage limit figure on behalf of a client, nine times out of 10 it’s higher than any other lender. About 6 x salary is the minimum.

But I’m not surprised the chief executive’s finger isn’t on the pulse. After all, doesn’t it own Woolwich?

Simon Collis
Chadney Bulgin


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