The lender will remove the need for a separate rental coverage requirement, while the assessment for minimum gross income will be simplified to £25,000 per annum for joint applications.
Barclays said it will no longer need to use a separate rental coverage test as it already uses a minimum stress rate of 5.5% for existing and applied for buy-to-let properties, as well as considering various additional landlord costs and tax liabilities in its affordability assessment.
All applications to Barclays submitted from today will be assessed using the new criteria.
In May, Barclays hiked its minimum rental coverage requirement for buy-to-let applications from 135% to 145% after the government announced it would restrict mortgage interest relief available to landlords from April 2017.
