Barclays slashes buy-to-let rates and introduces fee-free deals

Barclays slashes buy-to-let rates and introduces fee-free deals

The deals are available from tomorrow, with the range also including fee and rate discount, extended loan-to-values (LTVs) and maximum loan sizes for rate switch or further advance customers.

Highlights from the reduced range include a two-year fixed mortgage at 2.09% with a 1% fee; a two-year tracker at a rate of 2.09% and £1,500 fee; and a five-year fix at 2.99% with a 1% fee, all at 75% LTV. Barclays is also introducing a new 2.99% 10-year fix at 65% LTV with a £2,000 fee.

Products in the fee-free range include a 2.35% five-year fix at 75% LTV; a 3.59% five-year fix at 75% LTV; and a number of rate switch and further advance fixed-rate deals starting from 2.31%.

Some product fees have also been increased and deals withdrawn. Barclay’s two-year tracker at 1.85% and 65% LTV, now has a fee of £1,500 fee up by £10.

Product withdrawals include a five-year fixed purchase-only mortgage at 2.69% and 80% LTV and a two-year fixed-rate at 2.95% and 65% LTV.

Craig Calder, director of Barclays Mortgages, said: “We are providing greater choice to individual landlord investors across the UK than ever before who are looking to purchase or remortgage rental properties. Barclays also considers both personal and rental income for affordability purposes, helping individuals with a variety of income types to achieve their landlord aspirations.”