Buy to Let
Barclays targets buy-to-let remortgage sector with fee-free loans
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Your MortgageBarclays is set to extend its Switch and Save feature to its buy to let range and will launch a range of fixed buy-to-let rates with no application fees tomorrow.
The lender has also simplified its fee structure so buy-to-let loans of between £50,000 to £1m attract the same fee, where applicable.
The “Switch & Save” feature, currently available to residential remortgage customers will be extended to include Buy-To-Let and a cashback version is planned for a later date.
Andy Gray, managing director of Mortgages for Barclays said: “Since 2009, the fastest growing segment of the mortgage market has been buy to let. Inevitably as this market matures more customers and intermediaries will benefit from thinking about switching rates, not only achieving savings but also a level of security with the possibility of interest rate rises on the horizon.”
The new fee-free buy-to-let rates available from tomorrow include:
• 2 year fixed at 60% LTV at 3.45%
• 2 year fixed at 75% LTV at 3.99%
• 5 year fixed at 75% LTV at 4.89%