Buy to Let

Barclays confirms it will lend portfolio BTL after PRA changes

Barclays has confirmed it will accept portfolio buy-to-let applications when new PRA underwriting rules come in on 30 September.

The lender has not published the full details of how it will approach portfolio lending.

But Barclays director of mortgages Craig Calder says there will be few changes to the lender’s current application process.

He says: “We already assess buy-to-let affordability by carrying out a complete affordability assessment.

“This means minimal change to our existing application process or criteria for landlord customers who have four mortgaged rental properties or more.”

From 19 September the lender will ask for a property schedule to be completed, containing extra information for its underwriters.

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