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.