To support your existing Barclays mortgage clients who want the flexibility of letting their home via sharing platforms such as Airbnb, we’re pleased to announce that we will allow Barclays residential mortgage customers to let out either their whole property or part of the property (e.g. a room or annexe), via approved short term letting platforms subject to certain conditions.

We’re making this change for both new and existing residential customers.

Your clients will not be required to obtain prior approval from us to let out their property as long as they meet the following conditions:

  • They let out the property via an online short term occupancy platform that is on our approved list below.
  • The occupation is agreed under license and not by way of a tenancy agreement.
  • The property is not occupied by someone other than the owner for longer than 90 days in any 12 calendar month period and for no longer than 30 days consecutively by any single individual other than the owner;
  • The  buildings insurance is not invalidated and remains in force at all times
  • They are not breaching any requirements and regulations of local and other relevant authorities.
  • For Special Schemes (e.g. Help to Buy, shared ownership) they may need to obtain prior permission from the Scheme provider. They may also need consent from any second charge lenders

Our current list of approved online short term occupancy platforms that are permitted:

  • Airbnb

Note: Clients should be made aware that correspondence about their mortgage will still be sent to the property even if it is being let out (if that is their selected correspondence address).

If your client is looking at letting their property via a tenancy agreement for a longer period of time, the permission to let process is still the same. Please visit our lending criteria hub for more detail

Important application information

Please note for those applying for a mortgage with us, any rental income generated from the subject property to be mortgaged cannot be used towards allowable income for affordability purposes, therefore you must not document this in the mortgage application. Where you have identified that some or all of the UK Land and Property income showing on the SA302/tax calculation relates to the subject property, you must scan supporting notes with your income documentation to confirm this and the breakdown.

Also, when proceeding with an application, if your client makes you aware that they are currently or will be letting their property on a short term basis, please scan a supporting note on to the application to inform the underwriters.

Please click here for an example of a tax calculation with UK Land & Property income.

Thank you for your support