The changes, announced today, include the extension of Barclays 'Switch & Save' benefits to its entire mortgage range, meaning landlords can now benefit from one free non disclosed valuation and free standard legal services, saving a minimum of £200 on a mortgage loan of £200,000. It also plans to add a range of new fixed Buy-To-Let rates with no application fees and a simpler, streamlined application fee structure meaning that all loans between £50,000 and £1m attract the same fee, where applicable.
The 'Switch & Save' feature, currently available to residential remortgage customers will be extended to include Buy-To-Let remortgage customers. A cashback version with a free non-disclosed valuation will be made available at a later date.
Andy Gray, Managing Director of Mortgages for Barclays said:
“Since 2009, the fastest growing segment of the mortgage market has been Buy-To-Let. Inevitably as this market matures more customers and intermediaries will benefit from thinking about switching rates, not only achieving savings but also a level of security with the possibility of interest rate rises on the horizon. This move sees the Barclays Buy-To-Let Switch and Save remortgage package being extended to cover the entire breadth of our mortgage offering.”
