The State Bank of India UK (SBI) has relaunched its fixed-rate BTL products and introduced a new 50% LTV band aimed at low-gearing borrowers.
Clients can now choose product terms ranging from two-year fixed rates up to five-year fixed rates.
Loans are available up to a maximum of £3m for individual loans and £5m for portfolio loans.
The standard five-year fixes are available from 5.30%, while the specialist five-year fixed rates are available from 5.55% – both products are on offer at 50% LTV.
Products for individuals, SPVs, HMOs, and expats all begin at 50% LTV with a maximum LTV of 65%.
SBI’s range carries an arrangement fee of 2%.
In addition, the corresponding green range products – available to clients with properties with an EPC rating of A, B, or C – are on offer at lower rates of 10 basis points.
The green range can apply to flats, houses, HMO, and multi-unit properties.
Abhishek Sahay, chief business officer at SBI UK, said: “We are excited to reintroduce our fixed rate BTL 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.
“The bank is proud to continue to play its part in incentivising reduction in carbon emissions.”
