Paradigm Mortgage Services has added specialist buy-to-let lender, SBI UK, to its lender panel.
Members of the mortgage services proposition can now secure access to SBI UK’s range of buy-to-let funding solutions available for individual borrowers or those using SPVs.
SBI UK currently lends on the following:
- Buy-to-let for limited company/SPV/Partnerships.
- Buy-to-let HMO – for individuals and limited company/SPV/Partnerships.
- Buy-to-let for expats.
- Buy-to-let for individuals.
The SBI UK product range comes with a number of key criteria and USPs including:
- Single loan amounts up to £3m.
- Up to 75% LTV lending with arrangement fees able to be added on top.
- Five-year fixed-rates stressed at pay-rate, including on capital raising.
- Cashback of £300 and a refund of the valuation fee available on all remortgage cases payable after completion.
- No restrictions on background portfolios or properties with SBI UK for portfolio landlords.
SBI UK is a wholly-owned subsidiary of State Bank of India, and was established in April 2018 with 11 branches across the UK; however SBI has been active here since 1921. Its UK retail offering covers commercial lending, cash ISAs, instant access savings account, business accounts and fixed deposits.
Richard Howes (pictured), director of mortgages at Paradigm Mortgage Services, said: “The mortgage market is incredibly competitive at present and we want to ensure our members have access to those lenders, and their product ranges, who are pushing the envelope in terms of what is achievable.
“Advisers active in the buy-to-let space will undoubtedly be interested in the SBI UK proposition which is available via Paradigm for the first time. SBI UK have a team of highly-qualified and experienced BDMs and focus on developing strong relationships with the adviser community to ensure their landlord and investor clients have access to the best finance solutions.
“We’re looking forward to working with the SBI UK team and introducing its range of products and its quality service to our members.”
Bianca Steenkamp, head of intermediary business relations at SBI UK, added: “This is a great time to be joining Paradigm Mortgages Services; with our competitive buy-to-let product range, including SPV, Individual, Ex Pat, HMO and Foreign National products, and our flexible and bespoke underwriting approach we feel we can support Paradigm’s members to deliver the best possible solutions to their landlord clients.”