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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.

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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.

To find out more about how we can assist you with your Residential Mortgage please click here

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.

Based on average bill sizes for a medium energy user on a dual fuel plan paying by monthly direct debit, and averaged across all regions. This information is updated hourly with energy plans which are available to switch to through Uswitch. To appear in this table, plans must be available in at least 7 of the 14 regions.

Written by: Lana Clements

Source: Your Money

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