The new buy-to-let products include a two-year tracker at 3.29% up to 60% loan-to-value for loans between £50,000 and £500,000 with a fee of £999.
Buy-to-let rate cuts include a reduction of 0.30% to 2.99% for its two-year fixed rate at 60% loan-to-value with a fee of £1,999 for loan sizes between £50,000 to £500,000.
A five-year fixed rate at 3.49% up to 75% loan-to-value with a £999 fee has been introduced to its residential range while its two-year fixed rate has been cut to 3.99% for loans up to 90% LTV with a fee of £999.
Andy Gray, director of mortgages for Barclays, said: “We are pleased to announce we are making a number of positive changes to both our residential fixed rate range and our buy-to-let range which could benefit first-time buyers, home movers, remortgage, rate switch customers and buy-to-let landlords.”
The changes to the buy-to-let range follow Barclays’ controversial decision earlier this month to increase its buy-to-let stress calculation from 125% of the pay rate to 125% of 5.79%.
Barclays said it had brought in this measure to ‘ensure consistency’ across its product range.
But writing in his blog Ying Tan, managing director of The Buy to Let Business, described the move as a ‘real blow’ for the lower yielding London market.
Tan said the move left landlords with limited choice as Clydesdale Bank and Hinckley and Rugby remain the only lenders calculating at pay rate.
