COVID-19 – Restrictions on new mortgages

Published

Although most lenders have agreed a three-month extension of existing mortgage offers, some lenders have already place new restrictions on new mortgages: -

  • Nationwide will now only offer home loans to those with 25% equity or more; in other words, a deposit/equity of at least 25% will be required
  • Barclays, Halifax, Virgin Money, The Family Building Society, Santander and Skipton Building Society will now only offer home loans to those with 40% equity or more; in other words, a deposit/equity of at least 40% will be required
  • Coventry Building Society will now only offer home loans to those with 35% equity; in other words, a deposit/equity of at least 35% will be required
 

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