Halifax and Barclays scrap new mortgages below 40% deposit

Two of Britain’s biggest banks have pulled new mortgages for all but those with the biggest deposits or sizeable equity in their homes. Barclays and Halifax’s intermediary brands have stopped selling mortgages above 60 per cent loan-to-value this week, as the housing market grinds to a halt amid the coronavirus outbreak.   The move triggered by the coronavirus outbreak is the biggest shake-up to the market since the credit crunch and echoes bank and building societies’ actions during the financial crisis. It is not clear to what extent the banks have…

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