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Barclays updates BTL affordability checks

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Barclays has updated its affordability assessments and minimum gross income requirements for new buy-to-let lending.

The lender is making the changes to comply with Prudential Regulation Authority minimum underwriting requirements coming in on 1 January 2017.

The lender is removing its separate rental coverage requirement and simplifying its minimum gross income requirement to be £25,000 per annum for joint applications, with at least one applicant earning £25,000.

All applications submitted from 14 December will use the new criteria.

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