Santander for Intermediaries (SFI) has made changes to its buy-to-let criteria, offering landlords who remortgage a free valuation and £250 cashback paid on completion.
AAll non-professional landlords who want to remortgage their buy-to-let property will be able to claim SFI’s Remortgage Cashback benefit.
Brad Fordham, managing director of Santander for Intermediaries, said: “The buy-to-let market remains a key focus for SFI as we move into 2014 and this latest improvement, offering a free valuation and £250 cashback to non-professional landlords when remortgaging, demonstrates our continued commitment to this sector.”
Santander for Intermediaries is also launching a residential two-year tracker at 60% LTV and 1.79% rate with £995 fee.
Like all Santander trackers, the new two year tracker will be free of Early Repayment Charges (ERC).
SFI is also extending its range with two new fixed rates at 85% LTV: a two-year fixed at 85% LTV and 2.89% rate with £995 fee and a five-year fixed at 85% LTV and 3.99% with £495 fee.
These products come with Santander’s Homebuyer or Remortgage solutions, offering a Free Valuation and £250 Cashback for those buying a new home and Free Valuation and £250 Cashback or Free Legals for those re-mortgaging.
A new two year fixed rate at 70% LTV and 2.04% rate with a £995 fee, replaces the former 60% LTV product.
Meanwhile Santander Current Account customers can benefit from an exclusive two-year fixed at 70% LTV and 1.94% rate with £995 fee. All Santander 1|2|3 Current Account customers who pay their monthly mortgage payment by direct debit also benefit from receiving 1% cashback on maximum monthly mortgage payments of £1,000.
Fordham added: “We want Santander for Intermediaries to be the first point of call for intermediaries and their clients. We have a long history of providing competitively priced products. These latest additions to our range, including our market leading tracker at 60% LTV and market leading 85% LTV products, have been designed to show the market that we can offer a wide variety of LTV products in addition to competitive rates and fees.
“This coupled with our latest enhancement to our buy-to-let offering, will provide brokers and customers with choices to suit their needs.”