Barclays has updated its lending criteria to allow borrowers to let their homes on Airbnb.

The change applies to both new and existing Barclays customers who are looking to lease a single room or the whole property on a short-term basis.

Barclays will only allow borrowers to let their properties through specific platforms and the first site it has approved is Airbnb.

Home owners will be able to lease their properties for up to 90 nights a year.

However, they must not let their home for more than 30 consecutive days to the same person.

Borrowers must ensure that they are not invalidating their buildings insurance or breaching local planning laws.

Barclays says short-term rentals must be arranged under a licence rather than as tenancy agreements.

Airbnb director of public policy Patrick Robinson says: “We are delighted to see Barclays help mainstream hosting on Airbnb. 

“Innovations like this create new economic opportunities for families and support the modern way they live, work and travel. 

“The new mortgage policy will help more people share their homes and follow their mortgage terms, which is good news for everyone.”