Barclays Increases Buy-too-Let Loan Limits & Continues Affordability Drive
Barclays has expanded its mortgage offerings, increasing maximum loan sizes for buy-to-let properties and building on a series of recent changes designed to improve affordability for homebuyers. Teh move, announced today, sees the maximum loan amount for new build buy-to-let properties rise to £550,000 at 60-75% Loan-to-Value (LTV), while the limit for flats has also increased to £550,000 at 70-75% LTV.
These adjustments are part of a broader strategy by Barclays to make homeownership more accessible. Earlier this year, the lender revised its affordability calculations, perhaps enabling families to borrow up to £30,750 more. This follows an increase in maximum loan amounts for high LTV purchases to £640,000 for houses and £310,000 for flats,allowing buyers to access higher-priced properties with a 10% deposit.
“These enhancements are the latest in a series of changes Barclays has made to improve affordability for homebuyers,” a Barclays spokesperson stated.
Beyond loan amount increases, Barclays has also introduced innovative propositions like “Mortgage Boost,” which allows family or friends to support a home purchase without direct financial gifting or loans. Additionally, the bank now offers a zero-deposit mortgage option for eligible Right to Buy applicants.
