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TODAY'S OTHER NEWS

Barclays limits buy-to-let lending up to 70% LTV

Barclays has announced that it is restricting all buy-to-let deals to a maximum limit of 70% loan-to-value (LTV).

The bank, which was previously prepared to lend up to 75% LTV on rental properties, is also repricing a number of products.

In an email to brokers, Barclays said: “September is typically one of the busiest months within the market and we expect this to be the case again this year so in the interests of ensuring we continue to strike the right balance between offering you a wide range of product options whilst maintaining our service levels, we have reviewed our current product offering and are making some changes.”

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Barclays has withdrawn its product for portfolio landlords and hiked rates across a range of buy-to-let deals in a bid to manage demand.

The bank said in July that it would no longer offer two-year fixed deals up to 75% LTV to portfolio landlords, although it does plan to launch a replacement product in the near future. 

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