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Barclays has capped its mortgage affordability criteria for applications over 80% loan-to-value.

As a result, borrowers applying for a mortgage with less than a 20% deposit will now be limited to raising 4.5 times their income.

The Bank of England introduced rules last year to ensure no more than 15% of the mortgages issued by a lender should exceed a loan-to-income ratio of 4.5.

Aaron Strutt, product manager at Trinity Financial, says: “Barclays will potentially lend up to 5.5 times income if borrowers receive a good income and they have a good deposit. They will also need to have a decent credit score.

“Many of the other banks and building societies will lend five times salary.”

If you would like help to secure a mortgage, call Trinity on 020 7016 0790.

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