For Premier borrowers who meet the basic income threshold of £75,000 for individuals or £100,000 for joint applicants the lender has increased the maximum income multiple for applications from 5 x to 5.5 x.
Annual bonus contributions which have been limited to the level of the applicant’s basic income have been removed for individual borrowers earning more than £150,000.
The change to the annual bonus criteria will apply to residential applications only; other rules on annual bonuses will remain in place.
Service improvements have been made for intermediaries placing applicants with the Premier range.
Brokers can submit applications directly to a specialist team, which supports all residential and buy-to-let mortgage applications up to £600,000.
Cases above £600,000 will continue to be supported by the high value lending team.
Barclays said the changes would mean brokers using the Premier range will be able to deliver a faster and more consistent overall customer experience to their clients.
