0330 303 0236

Key Buy to Let Changes

three-colour-strip

Key Buy to Let Changes

Amended residency rules for BTL lending
Barclays are pleased to confirm they are removing the BTL 2-year residency requirement for customers solely using employed income in their application, so as long as applicants have Permanent Rights to Reside, they can apply for a BTL mortgage with them.

Note: Applicants must be currently resident in the UK at the time of application and if your client would like to use any self-employed income then they would need to be resident in the UK for at least 2 years. The documents required to evidence self-employed income remain unchanged. Please view their lending criteria for full information

 

Additional documents will be applicable, including:

  • 3 months’ bank statements AND 3 month’s payslips are required, showing salary paid in the UK via a mandated salary to the applicant’s own bank account.
  • Employment reference
  • ID for KYC purposes must be verified by a Passport
  • Evidence of deposit required (for purchase applications)
    Proof of UK residential status

 

Key Other Changes

  • Self-employed income
    They have removed the requirement for applicants to have been self-employed for a minimum of 3 years. The documents required to evidence self-employed income remain unchanged. Please view our lending criteria for full information
  • Northern Ireland Rent-to-Own scheme
    They are pleased to confirm that they can now support applications under the Northern Ireland Rent-to-Own Scheme