Woolwich extends 5.5 times salary mortgage deadline for Premier Customers
Woolwich for Intermediaries, the broker lending arm of Barclays, has extended its offer to lend up to 5.5 times salary mortgages to its Premier Customers.
Initially, the enhanced income multiple offer was due to be withdrawn at the end of December, although this has been extended until 31 March 2016.
The bank raised its maximum income multiple for selected applications from five-times salary to 5.5 times salary. It also temporarily removed the annual bonus cap used for affordability calculations for Premier clients earning more than £150,000.
Aaron Strutt, product manager at Trinity Financial, says: “Many of the high-street banks and building societies will lend between four and five times salary, they do not regularly offer mortgages over five times.”
How do I qualify?
To qualify as a Barclays Premier Customer you will need to have an annual gross income of £75,000 or have a combined salary of £100,000. Barclays will also accept £100,000 in savings or investments providing it is with the bank.
If you do not have a Premier account, you will need to open one before the mortgage application is submitted.
To secure a mortgage through Woolwich for Intermediaries call Trinity on 020 7016 0790.
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