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

(as of 01/03/2022, rates may be withdrawn at any time)

 *£500 Booking fee will be refunded upon completion

*£500 Booking fee will be refunded upon completion

* Subject to complete underwriting and assessment

Non-Resident BTL applications will be subject to the following additional lending criteria:

Borrower: UK Incorporated SPV only

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

Maximum Loan: £5,000,000 total exposure (£3,000,000 for an individual property)

Minimum Income: £40,000 per annum or equivalent (can consider lower for 'High Net Worth' individuals, please refer to SBI UK Ltd)

ICR: 130%, applicable stress rate would be Product Rate + 2.00% or 5.50% (whichever is higher).5 year Fixed Products are stressed at Pay Rate.

Application Fees: £500, payable upfront, refunded upon completion.

Geographic Restrictions: No country restrictions (excluded those on any Sanction list), KYC must be verified by an SBI branch in the UK or Internationally.

KYC Certification: KYC documents need to be verified in original by branches of SBI in India or other countries of its presence.

Other Conditions:

1. Property needs to 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 £300,000.
5. Home Country credit report to be obtained.

All products will transfer to SBI's Standard Variable Rate (SVR) at the end of the product's incentive period: 4.74%.

Please see SBI website for full criteria and Early Repayment Charges 

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