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November 21, 2012

Barclays slashes buy-to-let fixed rates

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by Gill Montia

Barclays slashes buy-to-let fixed rates

Barclays is cutting rates on its range of buy-to-let fixed-rate mortgages by up to 1.1% from today.

The new two-year deals include a rate of 4.19%, reduced from 5.29%, for those with a deposit of 25%.

For those with a 40% deposit, the rate is down to 3.69%, reduced from 3.88%.

Barclays’ managing director of mortgages, Andy Gray, comments: “These new products will help customers to save money and make investment in the buy-to-let market more affordable.

“The buy-to-let mortgage market has continued to grow over recent years and is fiercely competitive so we expect that these rates cuts will be welcomed by landlords.”

All the new deals revert to a lifetime tracker of base plus 4.49%.


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