Skip to main content

Additional Borrowing Now Available to 85% LTV from Barclays

21 July 2017

Woolwich logo

Barclays have announced that they will now be able to support even more clients with their refinancing and additional borrowing needs. 

  • They have increased the maximum LTV on remortgage with additional borrowing and further advance for existing customers from 80% to 85%. 
  • For existing Barclays mortgage customers (excluding Buy to Let) requesting a Further Advance (additional borrowing), they will now lend up to a maximum LTV of 85%.
  • For re-mortgage and part staircasing on Special Schemes, they will now lend up to a maximum LTV of 85%* of the share owned for Shared Equity and Shared Ownership customers.
  • For Help to Buy Equity Loan customers a maximum LTV of 85%* of the current market value applies, whether the Equity loan is due to be repaid in part or full.
  • For Shared Equity customers fully repaying the Equity loan, or Shared Ownership customers staircasing to 100% ownership, they will lend up to a maximum of 90%* LTV.
     

*Where any additional borrowing is to be used for Debt Consolidation, the maximum LTV is limited to 80% in all instances. 

 Buy to Let Remortgaging 

They are changing the minimum period a borrower must have owned their property before a BTL re-mortgage is considered.  The applicant must have owned the property for a minimum of 6 months before a re-mortgage will be considered. This is a reduction from their previous requirement of 12 months.

 


Using an Ipad

Follow us on twitter

Follow Jeremy Duncombe for market and product updates on Twitter. You'll find him at @JeremyDuncombe.