Barclays has announced it is to extend its buy to let mortgage range through its home loan arm Woolwich.
The action will see the products moved to 75 per cent loan to value (LTV) from today (November 3rd) and this includes a competitive five-year fixed at 4.99 per cent.
Also included in the 75 per cent LTV range will be a two-year fixed-rate at 4.39 per cent and a lifetime tracker at base plus 3.49 per cent.
A £1,999 application fee also accompanies the new deals and Andy Gray, head of mortgages at Barclays – which has in excess of 300 years of history and currently employs over 145,000 people in more than 50 countries – noted the bank has identified the need to offer increased support to the buy to let sector at present, due to demand from investors picking up as people choose to rent properties for longer.
The industry figure stated: “The five-year fixed deal we are offering at 75 per cent LTV is highly competitive and will give investors the stability they need over the longer term.”