Mortgages  

Barclays unveils new portfolio buy-to-let rates

Barclays unveils new portfolio buy-to-let rates

Barclays has launched new residential rates and a range of buy-to-let (BTL) products for portfolio landlords with four or more mortgaged rental properties.

The new buy-to-let purchase and remortgage products include a 1.99 per cent two-year fixed rate deal and a 2.69 per cent five-year fixed rate.

Both are available with a 75 per cent LTV, and come with a £1,950 product fee.

New residential rates for purchase and remortgage include a two-year fixed rate at 1.46 per cent for a home loan that is up to 60 per cent LTV with a £999 product fee and a maximum loan of £1m.

Alan Lakey, director at Highclere Financial Services in Hertfordshire, said: "The Barclays buy-to-let rates are very competitive.

"Their two-year rate of 1.99 per cent beats the BM Solutions rate of 2.06 per cent although Accord, with 1.98 per cent  and a lower fee of £1,495 and free valuation remains attractive.

"These offerings will keep the buy-to-let market as vibrant as it can be given the stamp duty attack by former chancellor George Osborne, which has caused a substantial reduction in appetites.

"The residential rates are also extremely competitive. The Leeds and TSB are offering slightly lower rates but Leeds are very difficult to deal with and TSB will not allow every firm to hold an agency like HSBC and Clydesdale."

Other offerings include a two-year fixed rate with no product fee, which is on offer at 1.78 per cent up to 60 per cent LTV with a maximum loan size of £500,000.

A five-year fixed rate is available at 2.14 per cent up to 60 per cent  LTV, also with no product fee, and a maximum loan size of £250,000.

For residential remortgage only, there is a two-year fixed rate at 1.8 per cent, as well as a five-year fixed rate for 2.12 per cent.

Both of these are for a 60 per cent LTV, with no product fee and a maximum loan of £500,000.

aamina.zafar@ft.com