Brilliant Solutions

Barclays Update

Here are the latest updates from Barclays.  These products are available via our direct to lender mortgage club which offers you payment on completion and a lot more besides!

Barclays lending policy update

We’re pleased to confirm an enhancement to our Part and Part lending policy, which will enable a wider group of your clients to benefit from one of our competitive deals.

Positive change to Part & Part Policy:

  • We have increased the maximum LTV from 80% to 85% for all clients

This change will apply from today, Friday 18th March. Any cases started but not submitted before this date can also benefit from the enhanced policy.

Please note: the existing maximum LTV limits and criteria for the Interest Only portion of the loan remain unchanged (50% max LTV and £300k minimum equity requirement for sale of property repayment strategy, and 75% max LTV for other repayment strategies, such as sale of an existing stocks and shares ISA).Here is a worked example of how the new LTV could apply.

  • In Example A, at the end of term the capital & interest repayment part of the loan is repaid, so there would be £300,000 equity left; this example would meet the minimum £300,000 equity requirement using the sale of the mortgaged property as the repayment strategy.
  • For Example B, the minimum equity requirement wouldn’t apply as the repayment strategy is not the sale of the mortgaged property.

All other lending policy applies and remains unchanged.

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