We are pleased to announce the launch of a new range of BTL products from today with reduced interest rates. I have attached a copy of our product brochure so that you can see the full details of the new range.

State Bank of India has also made a number of enhancements to our online portal to make it easier to key on applications, you can access the portal on https://sbi.brokersportal.co.uk

 

DETAILS OF CHANGES TO THE PRODUCT RANGE

Buy to Let (Standard Range)

5 Year Fixed Rate (£0 fee)

  • Interest rates reduced by 0.14% for products up to 60% LTV.
  • Interest rates reduced by 0.04% for products between 60.1% and 75% LTV.

5 Year Fixed Rate (£995 fee)

  • Interest rates reduced by 0.10% for products up to 60% LTV.

3 Year Fixed Rate (£0 fee and £995 fee products)

  • Interest rates reduced by 0.15% for products up to 60% LTV.
  • Interest rates reduced by 0.05% for products between 60.1% and 75% LTV.

Buy to Let (SPV/LLP/Ltd Co)

5 Year Fixed Rate (1.25% fee)

  • Interest rates reduced by 0.30% for products between 60.1% and 75% LTV.

 

EXISTING CASES

For customers who have existing applications currently being processed by SBI and who wish to transfer to one of the new rates the following rules will apply:

Current Applications

  • For existing applications that have yet to go to offer the applicant will be able to change their product to one of the new rates at no additional cost.

Current Offers

  • Customers who have already received their offer will not be able to select one of the new products.

If you have any questions or require a log-in and password for the online portal, please contact your SBI Branch Manager Kalvinderit Singh Nahal or you can visit the SBI intermediary website www.intermediaries.sbiuk.com