Barclays loosens 5x income affordability

Barclays will now lend at five times income up to 80% LTV to borrowers who have a minimum income of £30,000.

Related topics:  Mortgages
Rozi Jones
12th December 2018
Barclays

The Bank previously required a minimum income of £45,000, which will remain in place for borrowers between 80% and 85% LTV.

All other loan-to-income criteria is staying the same, with mortgages above 85% LTV being capped at four times income.

Barclays will lend at 5.5 times income for Premier and Wealth customers earning over £75,000, or £100,000 for joint applications.

5.5 times income is also available on Family Springboard mortgages for incomes above £50,000 and Help to Buy customers can access a maximum multiple of 4.49 times income.

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