Buy to Let Mortgage Range

All applications are subject to status, underwriting and lending criteria.

As of 17/05/2019(rates may be withdrawn at any time)

Standard - 5 Year Fixed Rate (fixed for 5 years from completion) £0 Fee (No SPV/LLP)
Up to
60% LTV
Up to
75% LTV
Then
SVR

(Variable)
Arrangement Fee Booking
Fee
Early Repayment Charge
4% (Years 1 & 2)
3% (Years 3 & 4)
2% (Year 5)
2.65% 3.15% 4.74% £0 £0

Standard - 3 Year Fixed Rate (fixed for 3 years from completion) £0 Fee (Refund of Valuation and £300 cashback for Remortgages)
Up to
60% LTV
Up to
75% LTV
Then
SVR

(Variable)
Arrangement Fee Booking
Fee
Early Repayment Charge
3% (Year 1)
2% (Year 2)
1% (Year 3)
2.34% 2.84% 4.74% £0 £0

Standard - 3 Year Tracker Rate (for 3 years from completion) £0 Fee (Refund of Valuation and £300 cashback for Remortgages)
Up to
60% LTV
Up to
75% LTV
Then
SVR

(Variable)
Arrangement Fee Booking
Fee
Early Repayment Charge
2% in years one & two
2.84%
(BBR+2.09%)
3.04%
(BBR+2.29%)
4.74% £0 £0

Standard - 5 Year Tracker Rate (for 5 years from completion) £0 Fee (Refund of Valuation and £300 cashback for Remortgages)
Up to
60% LTV
Up to
75% LTV
Then
SVR

(Variable)
Arrangement Fee Booking
Fee
Early Repayment Charge
2% in years one & two
2.94%
(BBR+2.19%)
3.14%
(BBR+2.39%)
4.74% £0 £0

Specialist - 5 Year Fixed Rate (for 5 years from completion) 1.25% Fee (Ltd Co, SPV, LLP, Ex-Pats and all borrowing over £1m, Refund of Valuation and £300 cashback for Remortgages)
Up to
60% LTV
Up to
75% LTV
Then
SVR

(Variable)
Arrangement Fee Booking
Fee
Early Repayment Charge
4% (Years 1 & 2)
3% (Years 3 & 4)
2% (Year 5)
3.19% 3.39% 4.74% 1.25% £0

Specialist - 3 Year Fixed Rate (for 3 years from completion) 1.25% Fee (Ltd Co, SPV, LLP, Ex-Pats and all borrowing over £1m, Refund of Valuation and £300 cashback for Remortgages)
Up to
60% LTV
Up to
75% LTV
Then
SVR

(Variable)
Arrangement Fee Booking
Fee
Early Repayment Charge
3% (Year 1)
2% (Year 2)
1% (Year 3)
3.09% 3.29% 4.74% 1.25% £0

Specialist - 2 Year Fixed Rate (for 2 years from completion) 1.25% Fee (Ltd Co, SPV, LLP, Ex-Pats and all borrowing over £1m, Refund of Valuation and £300 cashback for Remortgages)
Up to
60% LTV
Up to
75% LTV
Then
SVR

(Variable)
Arrangement Fee Booking
Fee
Early Repayment Charge
3% (Year 1)
2% (Year 2)
2.69% 3.19% 4.74% 1.25% £0

Specialist - 5 Year Tracker Rate (for 5 years from completion) 1.25% Fee (Ltd Co, SPV, LLP, Ex-Pats and all borrowing over £1m, Refund of Valuation and £300 cashback for Remortgages)
Up to
60% LTV
Up to
75% LTV
Then
SVR

(Variable)
Arrangement Fee Booking
Fee
Early Repayment Charge
2% in years one & two
3.19%
(BBR+2.44%)
3.49%
(BBR+2.74%)
4.74% 1.25% £0

Specialist - 3 Year Tracker Rate (for 3 years from completion) 1.25% Fee (Ltd Co, SPV, LLP, Ex-Pats and all borrowing over £1m, Refund of Valuation and £300 cashback for Remortgages)
Up to
60% LTV
Up to
75% LTV
Then
SVR

(Variable)
Arrangement Fee Booking
Fee
Early Repayment Charge
2% in years one & two
3.09%
(BBR+2.34%)
3.39%
(BBR+2.64%)
4.74% 1.25% £0

SBI's BTL products are not regulated by the FCA or PRA

The following will apply to all mortgage products:

All products will transfer to SBI's Standard Variable Rate (SVR) at the end of the product's incentive period: 4.74%. This is the current standard variable rate for the bank but is subject to change at short notice.

All our products are SUBJECT TO AVAILABILITY and can be withdrawn at any time


General Criteria

Criteria Notes
Applicant Age 21 At time of application. At least one borrower must be under 65 at time of application
Number of Applicants Up to 4 applicants
Term 5 to 25 Years
Repayment Method Interest Only, Capital Repayment, Part & Part
Location England and Wales
Portfolio Landlords Accepted - Please refer to SBI's Buy to Let lending policy for full details of requirements
Transaction Type Purchase or Remortgage
Property Type House or Flat

Standard Criteria

Criteria Notes
Loan Size £35,000 - £1,000,000 (subject to LTV restrictions, see below)
Maximum LTV 75%: Up to £500,000
60%: Up to £1,000,000
Rental Calculation 5 Year Fixed Rate - 145% of monthly interest payments at product pay rate
5 Year Fixed Rate (Lower Rate Taxpayer) - 125% of monthly interest payments at product pay rate
Other Products - 145% of monthly interest payments at Product Rate + 2% or 5.50% (whichever is higher)
Other Products (Lower Rate Taxpayer)- 125% of monthly interest payments at Product Rate + 2% or 5.50% (whichever is higher)

Remortgage 5 Year Fixed Rate - 145% of monthly interest payments at product pay rate
Remortgage 5 Year Fixed Rate (Lower Rate Taxpayer) - 125% of monthly interest payments at product pay rate

Remortgage Other Products - 145% of monthly interest payments at Product Rate + 2% or 5.50% (whichever is higher)
Remortgage Other Products (Lower Rate Taxpayer)- 125% of monthly interest payments at Product Rate + 2% or 5.50% (whichever is higher)

Specialist Criteria

Criteria Notes
Loan Size £35,000 - £3,000,000 (subject to LTV restrictions, see below)
Maximum LTV 75%: Up to £500,000
70%: Between £500,001 and £1,000,000
60%: Between £1,000,001 and £1,500,000
50%: Between £1,500,001 and £3,000,000
Rental Calculation 5 Year Fixed Rate - 125% of monthly interest payments at product pay rate
5 Year Fixed Rate (Lower Rate Taxpayer) - 125% of monthly interest payments at product pay rate
Other Products - 125% of monthly interest payments at Product Rate + 2% or 5.50% (whichever is higher)
Other Products (Lower Rate Taxpayer) - 125% of monthly interest payments at Product Rate + 2% or 5.50% (whichever is higher)

Remortgage 5 Year Fixed Rate - 125% of monthly interest payments at product pay rate
Remortgage 5 Year Fixed Rate (Lower Rate Taxpayer) - 125% of monthly interest payments at product pay rate

Remortgage Other Products - 125% of monthly interest payments at Product Rate + 2% or 5.50% (whichever is higher)
Remortgage Other Products (Lower Rate Taxpayer) - 125% of monthly interest payments at Product Rate + 2% or 5.50% (whichever is higher)
Large Loans Maximum LTV - 60% (subject to LTV restrictions, see above)

Income - The principal applicant must have a minimum earned income level of £50,000 (this cannot include income from rental property unless they are a professional landlord and income is evidenced from a large portfolio of properties and demonstrated in trading accounts)

Large Loans may be subject to additional underwriting requirements, please contact your SBI BDM for full information
Ex-Pats Maximum Loan Size - £1,500,000

In addition the following requirements must be met, please refer to your SBI BDM for full information

- British Passport holder with British Citizenship as nationality
- For employed applicants, confirmed employment with a company registered in their location
- If Self-Employed, confirmation that they are registered in their location
- Valid UK bank account
- Minimum income of £40,000 per annum (£100,000 Self-Employed)
- Own at least one another current property (residential or investment) in the UK
- No adverse credit
- Must work at a low or medium risk country as per the SBI AML matrix (available from SBI intermediary website)
- A locally generated credit reference check should be provided
- The property will be let to tenants and will not now or in the future be used as their residential address
- That they have appointed a UK letting agent to manage the property in their absence or someone locally is managing the same.

For more details about the BTL Lending Criteria, please click here.

Download a copy of our current Product Guide:


Your Buy-To-Let Property may be repossessed and/or a receiver of rent appointed if you do not keep up payments on your mortgage