Barclays PLC has raised its cap on loan-to-value (LTV) on buy-to-let mortgages from 60 percent to 75 percent, in an effort to increase its presence in the home loans market.
The announcement came as a response to growing activity in the buy-to-let market, on the back of increased demand from first-time buyers who can’t afford large deposits to secure property. The number of property investors returning to the buy-to-let market has grown, with most landlords refinancing to fund their portfolios.
The Yorkshire Building Society, along with the Bank of England (BoE) and other building societies and banks are tapping this niche to meet demand.
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