Barclays cuts rates

Barclays has announced a selection of rate reductions across its main buy-to-let mortgage range in addition to its core residential and large loan products.

New buy-to-let rates for a two-year fix at 75% loan-to-value (LTV) start at 1.49% and a five-year fix at 65% LTV from 2.69%.

All 60% LTV buy-to-let products are now available at a maximum of 65% LTV, while the maximum loan size on all 75% LTV buy-to-let products has been increased to £750,000.

Rate discounts include a 2.45% product at 65% LTV for five-year fixed rate mortgages.

Barclays is the latest in a long line of lenders to cut their buy-to-let mortgage rates in recent weeks, as fierce competition returns to the lending market.

Virgin Money, Aldermore, and NatWest are among those to announce a selection of rate cuts across their main buy-to-let mortgage ranges in addition to their core residential products.

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