State Bank of India UK (SBI) has relaunched its fixed rate buy-to-let (BTL) products and introduced a new loan-to-value (LTV) band of 50%.
The reintroduced products will be on offer to individual and portfolio landlords, including expats.
The lender’s loan sizes go up to a maximum of £3m for an individual loan and £5m for a portfolio.
Products for individuals, special purpose vehicles (SPV), houses of multiple occupancy (HMO) and expats start from 50% LTV and has a maximum LTV of 65%.
Standard five-year fixes will start from 5.30% for 50% LTV while specialist and SPV five-year fixes start from 5.55% for 50% LTV.
All SBI’s products have an arrangement fee of 2%.
Meanwhile, the corresponding green range is available for properties that have an A, B or C energy performance certificate (EPC) rating.
The green products have lower rates of 10 basis points and are available for flats, houses, HMO and multi-unit properties.
SBI UK chief business officer Abhishek Sahay comments: “We are excited to reintroduce our Fixed Rate Buy-to-Let products, which will support landlords and the UK housing market during this pivotal time.”
“We remain committed to the BTL market and look forward to engaging with our intermediary partners. Our Green Range continues to support and reward energy-efficient homes and properties.”
