Buy To Let Mortgages

Buy-to-let mortgages

Looking for an opportunity to invest in the property market
or refinance a buy-to-let mortgage?

Talk to us, we can help


Whether you’re looking to invest in property or rent a place out, we have a range of competitive Buy-to-Let mortgages to help you reach your goals.

At a glance:

  • Borrow between £35,000 and £3,000,000
  • Purchase a new property or remortgage an existing Buy-to-Let property
  • Mortgage terms between 5 and 25 years
  • Borrow up to 75% of the property value
  • Choose from Fixed or Variable interest rates and the borrowing term offered for our Buy-to-Let mortgages. To know more please visit your nearest branch
  • Products available for Limited Companies and SPV’s
  • Products available for HMO’s
  • Products available for Ex-Pats

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

Buy to Let Mortgage Interest Rates

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(as of 12/02/2019, rates may be withdrawn at any time)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, HMO and all borrowing over £1m)
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, HMO and all borrowing over £1m)
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, HMO and all borrowing over £1m)
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, HMO and all borrowing over £1m)
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, HMO and all borrowing over £1m)
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

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%

Early Repayment Charges

Product Year 1 Year 2 Year 3 Year 4 Year 5
3 Year Fixed 3% 2% 1% 0% 0%
5 Year Fixed 4% 4% 3% 3% 2%
3 Year Tracker 2% 2% 0% 0% 0%
5 Year Tracker 2% 2% 0% 0% 0%

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 paymentsat 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.

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 - £3,000,000 (Subject to LTV restrictions, see below)
Maximum LTV 70%: Between £100,000 and £500,000
65%: Between £500,001 and £1,000,000
60%: Between £1,000,001 and £1,250,000
50%: Between £1,250,001 and £3,000,000
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)

 

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

 

You must be over 21 to apply for a Buy to Let mortgage.

To know more please call or visit your nearest branch

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