Barclays Increases Buy-too-Let Loanโ Limits & Continues Affordability Drive
Barclays โhas expanded its mortgage offerings, increasing โขmaximum loan sizes for buy-to-let โคproperties and building on a series of recent changes designed toโ improve affordability for homebuyers. Teh move, announced today, sees the maximum loan amountโ for new build โbuy-to-let properties rise to ยฃ550,000 at 60-75% Loan-to-Value (LTV), while the limit for flatsโ hasโข also increased to ยฃ550,000โ at 70-75% LTV.
These adjustments are part of a broader strategyโ by Barclays to make homeownership more accessible. Earlier this year, the lender revised its affordability calculations, perhaps enablingโข families to borrow up to ยฃ30,750 more. This follows an โincrease in maximum loanโ amounts for highโ LTV purchases to ยฃ640,000 for houses and ยฃ310,000 for flats,allowing buyers to access higher-priced properties with a 10% deposit.
“These enhancements are theโข latest in a series of changes Barclays has โคmadeโค to improve affordability for homebuyers,” a Barclays spokesperson stated.
Beyond loan amount โคincreases, Barclays has also introduced innovative โpropositions like “Mortgage Boost,” which allows family โคor friends toโ support โคa home purchase without direct financial giftingโ orโ loans. Additionally, the bank now offers a zero-deposit mortgage optionโค for eligible Right to Buy applicants.