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Barclays to stop limited company and multi-unit BTL lending

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  • 18/06/2020
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Barclays to stop limited company and multi-unit BTL lending
Barclays is to stop accepting new purchase and remortgage applications for multi-unit properties, special purpose vehicles (SPVs) and limited liability partnerships (LLPs).

 

This will include unencumbered applications, with the last day for these submissions being 26 June.

The lender explained the changes along with others in a notification sent to brokers.

On the same day, Barclays is also closing further advance and transfer of equity applications through brokers on its legacy buy-to-let (BTL) platform. This will affect clients with a six-digit account number.

Any client in this situation requiring further borrowing can still do so through direct channels.

“Please be aware that we continue to accept intermediary applications for further advances for your clients with a Barclays BTL mortgage with a ten-digit account number,” the lender said.

Brokers can continue to submit buy-to-let product transfers using the online tool in the lender’s hub, irrespective of whether they have a six- or ten-digit account number.

 

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