TITLE

Barclays to apply minimum income requirement for interest-only borrowers

AUTHOR(S)
Thomas, Paul
PUB. DATE
May 2013
SOURCE
Money Marketing (Online Edition);5/29/2013, p9
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that the bank Barclays PLC will do away with its minimum loan size to apply minimum income requirement. It states that the bank will use minimum income requirement to see if the borrower is eligible for interest-only mortgage. It mentions that from June 4, 2013 applicants will be required to have gross income of at least 75,000 pounds to be able to get an interest-only mortgage.
ACCESSION #
88066848

 

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