Category: Buy-to-let
The volume of mortgage searches dropped by 7.48% last week, according to analysis by mortgage technology provider Twenty7Tec.
Even with the obstacles facing the current market, there are still buy-to-let (BTL) pockets providing strong returns for landlords.
This follows the announcement that the group has resumed new business lending through its Kent Reliance for Intermediaries and Precise Mortgages trading brands.
In addition, Barclays Mortgages is also introducing products up to 80% LTV for existing customers, while making its 85% LTV and above products available for rate switch only.
As at the end of April 2020, the group had granted mortgage payment holidays to approximately 24,000 accounts.
Virtual valuations are proving particularly helpful for landlord clients looking to remortgage during this period.
Rates start from 1.59% at 65% loan-to-value (LTV) or from 1.89% at 75% LTV, both have a £1,995 fee.
For the remaining 56%, their savings pots remained intact for the time being.
The launch of the lettings platform has been brought forward to aid landlords and agents during social distancing restrictions.
Founder Andrew Bloom steps back from day-to-day involvement in the bank and moves to a NED position on the Masthaven board.