Barclays is making a series of changes across its buy-to-let Core and Reward ranges, including the introduction of a new product.

The new rates will come into effect on Friday 26 April.

Changes include a rate reduction on its 60% LTV, £0 product fee five-year fixed, as well as a new 60% LTV £0 fee, £500 cashback, purchase only two-year fixed.

Its new product is a 2.28% two-year fixed, £0 product fee, £500 cashback, 60% LTV, minimum loan £35,000, maximum loan £1,000,000.

The following rates are being cut:

• 1.52% two-year fixed, £1,795 product fee, 60% LTV, minimum loan £35,000, maximum loan £1,000,000 will decrease to 1.47%
• 2.36% five-year fixed, £0 product fee, 60% LTV, minimum loan £35,000, maximum loan £1,000,000 will decrease to 2.29%
• 1.72% two-year fixed Portfolio Landlords, £1,795 product fee, 60% LTV, minimum loan £35,000, maximum loan £1,000,000 will decrease to 1.67%
• 2.28% five-year fixed Portfolio Landlords, £1,795 product fee, 60% LTV, minimum loan £35,000, maximum loan £1,000,000 will decrease to 2.23%

Barclays will only accept applications from portfolio landlords on its portfolio landlord products. As per the PRA definition, portfolio landlords are those with four mortgaged rental properties or more across all lenders.