With the coronavirus pandemic continuing to escalate, Barclays has announced that it is withdrawing all portfolio buy-to-let products and is no longer accepting new applications.
The bank has closed two underwriting sites, owed in part to the outbreak of COVID-19, and this in turn has limited the number of applications it is currently accepting.
Barclays issued the following message to brokers: “These withdrawals are in addition to the measures communicated earlier to further help us manage the inbound flow of applications following the closure of two of our offshore underwriting sites over the past weekend.
“We are withdrawing all portfolio landlord products and regret that we are no longer accepting these applications at the present time.
“We expect to launch a fresh range of products shortly and we apologise for any inconvenience this causes in the interim."