Appointed representatives (ARs) of the Sesame network now have access to State Bank of India’s (SBI) range of buy-to-let products.
SBI is the largest commercial bank in India and is new to the intermediary market in the UK.
It will consider applications from individuals and via Special Purpose Vehicles (SPV) or Limited Liability Partnerships. SBI’s buy-to-let product range is available up to 70% loan to value and includes three and five-year tracker products starting from 2.99%.
It also has a selection of five-year fixed rate products with a choice of no arrangement fee, a flat fee or a percentage fee starting from 3.79%.
John Cupis, managing director of mortgages at SBG, said: “We are very pleased to have further extended our offering with the addition of State Bank of India’s buy-to-let products and I am sure the bank’s competitive rates and prudent yet realistic approach to mortgage lending will prove popular with our members.”
Sanjay Naik, head of retail for SBI, UK, added: “We are delighted that our new buy to let mortgages are available through intermediaries such as Sesame, thus ensuring a wider distribution of our buy-to-let range.”