Mortgage News
Barclays extends buy-to-let LTVs to 75%
Barclays, through its mortgage arm Woolwich, is extending its range of buy to let mortgages to 75% loan to value (LTV) from 3 November.
The 75% LTV range, increased from 60% LTV, includes a five-year at 4.99%, a two year at 4.39% and a lifetime tracker at base at + 3.49%.
The new deals come with a £1,999 application fee. At 60% loan to value, the 2 year fixed rate of 3.88% will be maintained.
Andy Gray, head of mortgages for Barclays, said: “The demand from buy-to-let investors has picked up in recent months as many people in the UK opt to rent for longer. We’ve also seen increased appetite from investors looking to remortgage.”
Barclays said the move was intended to support the market further.
The minimum loan available at 75% LTV is £50,000 up to a maximum of £1m.
Your First Home: confidence to build
Sponsored by Halifax Intermediaries
Barclays will apply its standard lending policy, which is a 125% rental calculation and 125% of the annual mortgage interest.