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Santander increases maximum mortgage term to 40 years

Santander has increased the maximum term, age and loan-to-value (LTV) for its buy-to-let products, while also making amendments to its affordability calculator.

The changes has seen the maximum age extended from 75 to 85, and the maximum lending term increase from 25 years to 40 years for its buy-to-let products.

It is important to note that the lender has extended its maximum mortgage term to 40 years, from 35 years, for residential capital and interest repayment deals.


But for interest-only where the repayment is by endowment or investment, it is reducing the term from 35 years to 25 years.

The lender has also updated its affordability calculations to consider income tax bands, and national insurance to align with the 2019-2020 tax year.

Graham Sellar, head of channel development at Santander, said: “By increasing both the maximum term and maximum lending age on our BTL mortgage range, we are hoping to help landlords reap the benefits of their investment for longer.”

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