Santander for Intermediaries (SFI) has announced a new five-year fixed-rate buy-to-let mortgage charging 4.34% up to 75% LTV.
It has also cut rates by 0.3% on selected 60% and 75% LTV fixed and tracker buy-to-let products. All buy-to-let deals are available now, exclusively via SFI.
The new 4.34% rate has a £1,495 fee and is available to both employed and self-employed non-professional landlords. It comes with SFI's Homebuyer or Remortgage Cashback Solutions package.
This follows the lender's recent decision to expand its buy-to-let criteria to self-employed landlords, in a bid to boost its share of this growing market.
It is also reducing a selection of its buy-to-let mortgage rates by 0.30%:
- Two-year fixed rate to 60% LTV has been cut from 2.99% to 2.69%.
- Two-year fixed rate to 75% LTV down from 3.49% to 3.19%.
- Two-year tracker to 75% LTV down from 3.35% to 3.05%.
All deals come with Homebuyer & Remortgage Cashback Solutions, and charge a £1,495 fee.
Brad Fordham, managing director for SFI said: “The growing buy-to-let market is a key sector for SFI. We will continue to review our buy-to-let offering, to ensure our competitive mortgages offer good value and are accessible to both employed and self-employed non-professional landlords.”
SFI considers buy-to-let applications from employed and self-employed landlords who have:
- A maximum of seven properties on completion of the new mortgage
- A maximum of five properties mortgaged with SFI on completion of the new mortgage
- A minimum of one and a maximum of 10 secured credit commitments at the time of application.
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