Barclays providing 5.5 times salary mortgage offer to borrowers earning over £75,000
Barclays is providing 5.5 times salary mortgages to new and existing Premier and Barclays Wealth customers.
Initially, the enhanced income multiple was due to end last year, although it has been extended with no set expiry date.
The bank has raised the maximum income multiple for applications from 5 times salary to 5.5 times salary for all residential capital repayment mortgages.
Interest-only applications will not be considered, although the lender will potentially offer a 35-year repayment term to a maximum age of 70. This should lower the monthly costs.
If you do not have a Premier account, Trinity can arrange for a personal banker to contact you and open an account prior to the application being submitted. One applicant will need an annual income of £75,000 to qualify. If one applicant does not earn £75,000 you will need a joint income of £100,000 to qualify. You can also have £100,000 saved or invested with the bank.
Our brokers also have access to a specific broker-only team regularly providing impressively fast mortgage offers.
Aaron Strutt, product manager at Trinity Financial, says: “Barclays 5.5 times salary mortgage offer has been popular with our clients, particularly as most high-street banks and building societies will lend between four and five times salary. They do not regularly offer mortgages over five times income.
“Trinty has access to another lender offering up to 5.5 times salary mortgages providing clients earn over £80,000 - either individually or as part of a joint application. The lender has great rates and you do not need to open a premier account to qualify. The maximum loan is £500,000.”
To secure a 5.5 times salary mortgage call Trinity Financial on 020 7016 0790.