Barclays raise minimum interest-only loan size to £300k
Barclays has made another significant change to their lending policy by putting in place a minimum loan size of £300,000 on their interest-only mortgages. By setting a limit Barclays will significantly increase the amount of capital repayments their customers take.
More lenders are insisting borrowers take full capital repayment mortgages even though there is a strong demand for interest-only. A spokeswoman for Barclays told Mortgage Strategy magazine: “The majority of our customers are taking interest-only mortgages over £300,000 so it makes sense to align our policy with that.†If you are looking for an interest-only mortgage, contact Trinity Financial on 020 7016 0790.
November 9, 2012
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