Will Barclays (BARC.L) Shares Be Affected By The UK Mortgage Market’s Difficulties?

The price of Barclays shares has dropped significantly over the last five days, as seen on the chart (approximately 5 pounds). However, if we look at the data for 6 months, we can see that the price has maintained reasonably consistent, so on December 14, 2020, the price was 142.36 pounds, and it is currently 181.90 pounds.
Barclays Bank in March to close in July | Cambs TimesPotential UK first-time buyers have been unable to purchase a home due to the coronavirus outbreak. According to a new NerdWallet study, three out of ten potential homebuyers have put their plans to buy their first house on hold due to COVID-19. The survey of 600 Britons who do not presently own a home aims to find out that 24% of those polled plan to buy their first home within the next year. CAVID-19 has caused over a third (30%) of potential first-time buyers to postpone their plans to buy a home, yet 70% of hopeful purchasers are sure that they will buy a home within the next ten years.

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Meanwhile, 57% are considering or planning to employ a government-backed mortgage with a 95% loan-to-value ratio. Banks in the United Kingdom have announced a new government-backed plan aimed at assisting first-time buyers and current homeowners in obtaining a mortgage with as little as a 5% deposit. With 95 percent of mortgages, first-time buyers or current homeowners can acquire a mortgage for a home valued up to 600,000 pounds ($846,450) with just a 5% down payment. Based on these factors, we can expect BARC.L shares will rise soon as a result of the new mortgage loan.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.

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