Barclays removes requirement to open Premier bank account to secure 5.5 times salary mortgage

by Aaron Strutt

Oct 16 2019

Barclays for Intermediaries has removed the necessity to open a Premier current account to access its 5.5 times salary mortgages.

Barclays was one of the first major lenders to provide 5.5 times salary mortgages, but other providers have adopted similar income policies providing them with more competition. Applicants will still need a sole income of £75,000 or a joint income of £100,000 to qualify.

Aaron Strutt, product director at Trinity Financial, says: "More of the lenders are offering generous income multiple mortgages, so there is a lot of choice at the moment.

"Trinity's brokers have access to one building society providing up to 5.75 times income mortgages when you borrow between £500,000 and £1.5 million. The lender can use up to 100% of bonuses and provide part interest-only."

Barclays new build house loan size increased

Barclays has raised the maximum loan size on all 85%+ loan-to-value lending on houses from £375,000 to £500,000. For borrowers looking to pay-off the Equity Loan element of their Help to Buy scheme, the bank has also expanded its policy to allow lending up to 90% loan-to-value.

Call Trinity Financial on 020 7016 0790 to secure a mortgage