Loan Digest

Barclays and NatWest cut the amount you can borrow as a mortgage by up to 18%

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BARCLAYS and NatWest have cut the amount home buyers can borrow by up to 18%, leading to fears more lenders will follow suit. Barclays is now capping home loans to 4.49 times the borrower’s s…

BARCLAYS and NatWest have cut the amount home buyers can borrow by up to 18%, leading to fears more lenders will follow suit.

It means hopeful buyers won't be able to afford homes previously within their budget or face stumping up a bigger deposit to make up the difference. Meanwhile, NatWest reduced the amount it is willing to lend to self-employed workers who apply for a loan from September 4 onwards.

 

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Good. Hopefully this means house prices will fall a bit.

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