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Buy to Let Mortgage Range

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

(as of 16/09/2020, rates may be withdrawn at any time)

Standard - 3 Year Fixed Rate (fixed for 3 years from completion, No SPV/LLP/Ltd Co)
Up to 60% Up to 75% Then SVR (Variable) Arrangement Fee Booking Fee Early Repayment Charge
3% (Year 1)
2% (Year 2)
1% (Year 3)
2.65% 2.84% 4.74% £0 £0
2.50% 2.69% 4.74% £1,995 £0

 

Standard - 5 Year Fixed Rate (fixed for 5 years from completion,No SPV/LLP/Ltd Co)
Up to 60% Up to 75% 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
2.50% 3.00% 4.74% £1,995 £0

 

 

 

Specialist - 2 Year Fixed Rate (fixed for 2 years from completion ,for SPV/LLP/Ltd Co )
Up to 60% Up to 75% Then SVR (Variable) Arrangement Fee Booking Fee Early Repayment Charge
3% (Year 1)
2% (Year 2)
2.74% 3.24% 4.74% 1.25% £0

 

Specialist - 3 Year Fixed Rate (fixed for 3 years from completion ,for SPV/LLP/Ltd Co )
Up to 60% Up to 75% Then SVR (Variable) Arrangement Fee Booking Fee Early Repayment Charge
3% (Year 1)
2% (Year 2)
1% (Year 3)
3.14% 3.44% 4.74% 1.25% £0

 

Specialist - 5 Year Fixed Rate (fixed for 5 years from completion, for SPV/LLP/Ltd Co )
Up to 60% Up to 75% Then SVR (Variable) Arrangement Fee Booking Fee Early Repayment Charge
4% (Years 1 & 2)
3% (Years 3 & 4)
2% (Year 5)
3.14% 3.44% 4.74% 1.25% £0

 

 

 

Ex-Pat - 2 Year Fixed Rate (fixed for 2 years from completion)
Up to 60% Up to 75% Then SVR (variable) Arrangement Fee Booking Fee Early Repayment Charge
3% (Years 1)
2% (Year 2)
2.74% 3.24% 4.74% 1.25% £0

 

Ex-Pat - 3 Year Fixed Rate (fixed for 3 years from completion)
Up to 60% Up to 75% Then SVR (variable) Arrangement Fee Booking Fee Early Repayment Charge
3% (Years 1)
2% (Years 2)
1% (Year 3)
3.14% 3.44% 4.74% 1.25% £0

 

Ex-Pat- 5 Year Fixed Rate (fixed for 5 years from completion)
Up to 60% Up to 75% Then SVR (variable) Arrangement Fee Booking Fee Early Repayment Charge
4% (Years 1 & 2)
3% (Years 3 & 4)
2% (Year 5)
3.14% 3.44% 4.74% 1.25% £0

 

 

 

HMO - 2 Year Fixed Rate (fixed for 2 years from completion)
Up to 60% Up to 70% Then SVR (variable) Arrangement Fee Booking Fee Early Repayment Charge
3% (Years 1)
2% (Years 2)
2.74% 3.44% 4.74% 1.25% £0

 

HMO - 3 Year Fixed Rate (fixed for 3 years from completion)
Up to 60% Up to 70% Then SVR (variable) Arrangement Fee Booking Fee Early Repayment Charge
3% (Years 1)
2% (Years 2)
1% (Years 3)
3.14% 3.44% 4.74% 1.25% £0

 

HMO - 5 Year Fixed Rate (fixed for 5 years from completion, available for Ex-Pats only)
Up to 60% Up to 70% Then SVR (variable) Arrangement Fee Booking Fee Early Repayment Charge
4% (Years 1 & 2)
3% (Years 3 & 4)
2% (Year 5)
3.14% 3.44% 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 - £500,000 (subject to LTV restrictions, see below)
Maximum LTV 75%: Up to £500,000
 
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 - £3,000,000.00 (subject to LTV restrictions, see below)
Maximum LTV

£35000- £500,000-75%

£500,001.00 - £1,000,000.00 -65%

£1,000,001.00-£1,500,000.00-60%

£1,500,001.00- £3,000,000.00-50%

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 - £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.
 
HMO Criteria
Criteria Notes
Applicant Experience They must have been a BTL landlord for at least 3 continuous years preceding the application date to SBIUK ; and
They must have either owned an HMO (as per our definition) for at least 1 continuous year preceding the application date to SBI or provide confirmation that the subject property will be managed by a professional agent.
Loan Size £35,000 - £1,500,000 (Subject to LTV restrictions, see below)
Maximum LTV

£100,000-£500,000-70%

£500,001.00-£1,000,000-65%

£1,000,001-£1,250,000-60%

£1,250,000-£1,500,000-50%

 

Transaction Type Remortgage of an existing HMO or purchase of a HMO in a completed state ready to be let to tenants
Property Requirements Maximum of 6 lettable bedrooms;
Maximum of 6 tenants;
Maximum of 3 storeys;
No more than 1 kitchen (Unless required by HMO Licensing conditions);
Properties with Bedsits cannot be considered
Rental Calculation Individual - 5 Year Fixed+ 150% of monthly interest 5.00%
Individual - All other rates 150% of monthly interest Product Rate + 2.00% OR 5.50% (whichever is higher)
SPV Ltd/LLP – 5 Year Fixed+ 130% of monthly interest 5.00%
SPV Ltd/LLP - All other rates 130% of monthly interest Product Rate + 2.00% OR 5.50% (whichever is higher)
 

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

 

Download a copy of our current Product Guide:


 

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