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Barclays extends mortgage offers to six months

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Written by: Lana Clements
30/04/2020
Barclays is giving customers up to six-month extensions on mortgage offers as the government has advised home moves should be delayed in the current climate.

Customers who have a mortgage offer and exchanged but not completed can apply for the extension.

However, the lender will need to be told about any change in circumstances, such as being furloughed, which could impact income.

The lender is arranging extensions directly with customers rather than through brokers.

To qualify the application must be either a residential or buy-to-let purchase, with the current offer expired after 26 March or due to expire in the next 30 days.

It comes after Barclays announced that more than 238,000 mortgage and loan holidays have been approved for customers.

Last week the bank relaunched 80 per cent loan to value lending after temporarily withdrawing the products in response to the coronavirus outbreak.

All lenders have confirmed they would extend mortgage offers by three months as the virus put the breaks on the housing market.

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