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Changes for Portfolio Landlords from Barclays

19 September 2017

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From today, Tuesday 19 September 2017, Barclays will tweak its rules for lending to portfolio landlords. 

Barclays already assess BTL affordability by undertaking a personal solvency review and detailed affordability assessment of the borrower. 

From today, your customers will be allowed a maximum of 6 mortgaged BTL / permission-to-let (PTL) properties with them, and a maximum of 10 mortgaged BTL / PTL properties across all lenders (including Barclays). 

All other BTL criteria remain the same:

  • Term: 5-25 years 
  • Maximum LTV: 75% (60% for individual loans of more than £1m)
  • Maximum individual loan: £2m
  • Maximum aggregate borrowing with us: £3m (£4.5m across all lenders)
  • Minimum personal income: £25,000 (£75,000 for individual loans of more than £1m) 

Rate-switch-only applications aren’t affected by these changes. 

Making an application with Barclays

From today onwards:

  • Barclays will apply a specialist underwriting approach for new BTL portfolio landlord applications (applications started before this date aren’t affected)
  • All portfolio landlord customers will need to complete a property schedule
  • They won’t need a separate property schedule if a customer has fewer than 4 mortgaged rental properties (including the subject property) across all lenders

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