Applicant:

UK Incorporated SPV

Maximum LTV:

65%

Rental Calculation:

130% of monthly payment at Product Rate + 2.00% or 5.50% (whichever is higher) If a product with a fixed term of 5 years or more is selected, then rental calculation will be 130% of monthly payment at the Product Pay Rate

Maximum Exposure:

£5,000,000 (£3,000,000 max per individual loan)

Income:

Minimum £40,000 equivalent.

Existing Property:

Owns minimum 1 residential property in India/Internationally either directly or through SPV

Property:

All property types including HMO and MUFB can be considered

Applicant Location:

There is no restriction for applicants to be based in any geography (except sanction countries). KYC documents need to be verified in original at an SBI branch in India or in an SBI international branch

Additional Criteria:

1. Property needs to be managed through a letting agent, or family member
2. Customer has account with SBI UK to hold 3 months debt reserve rent may be paid to this or other accounts.
3. Debenture on borrower entity would be required if this is the sole property or letter of non-crystallisation would be required from existing debenture holder
4. Minimum property value of £150,000
5. Home Country credit report to be obtained.