Barclays limits applications and removes rates

Barclays has announced that it limiting the number of applications it will receive and it has removed a number of rates.

The lender has attributed this announcement to the escalation of the coronavirus pandemic.

It outlined that due to restrictions put in place across India, the firm’s key locations have been closed.

As a result, the overall capacity of the bank has been lowered.

The high level of demand, in regard to the volume of applications in light of the coronavirus, has had an operational impact on the business and the service that it offers to customers.

Therefore, the bank has decided to cut back on its offerings.

A spokesperson for Barclays, said: “We’re making some adjustments to our products and support functions to ensure that we can service our customers as best way possible, under the unprecedented circumstances.”

Furthermore, Barclays has launched a new online form for residential mortgage customers requesting a mortgage payment holiday.

Written by: Houseladder