Barclays Woolwich launch 75pc btl mortgages, which includes a 5-year fixed rate deal at 4.99%, a 2-year fixed rate at 4.39% and a lifetime tracker at 3.49% above Bank Base Rate. The deals come with a £1,999 application fee.
The minimum loan available is £50,000 and the maximum is £1m. Borrowers will be assessed for the mortgage in line with Barclays standard lending policy and using their rental calculation.
For fixed rate products it requires the annual rent to cover 125% of the annual mortgage interest, for tracker mortgages it is calculated at 4.99%.
At 60% LTV 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.
“As one of the UK’s largest lenders we recognise the importance of supporting this market further. The five year fixed deal we are offering at 75% LTV is highly competitive and will give investors the stability they need over the longer term.”