Barclays is to directly arrange offer extensions of six months for mortgage purchase borrowers who have exchanged but have been unable to complete due to the coronavirus.

The lender says it understands that not all intermediaries will be in a position to re-submit applications for their clients for extended offers, so will do so directly while paying procuration fees to the broker on completion, as usual.

A validity period of six months from the date of issue will apply to extended offers.

To be eligible for an extension, the application must be for a residential or buy-to-let property purchase and contracts must have been exchanged prior to requesting the extension.

The current offer must have expired either after 26 March or be due to expire within the next 30 days.

There must not be any requested changes to the mortgage requirements or circumstance changes relevant to the mortgage application.

Last week, Barclays lifted daily restrictions on mortgage volumes and reintroduced some high LTV products.