Sainsbury’s Bank launches into buy-to-let

Ryan Bembridge

May 24, 2018

Sainsbury’s Bank has launched into buy-to-let – with 2 and 5-year fixed options for landlords with a portfolio of up to three properties.

The bank is launching 2 and 5-year fixes with purchase and remortgage options, with lending being available up to £1m to 60% loan-to-value and £500,000 up to 75% LTV.

David Buxton, head of banking at Sainsbury’s Bank, said: “We are delighted to introduce our buy-to-let and consumer buy-to-let products as we’re keen to begin to help smaller investors and non-portfolio landlords manage their mortgage outgoings.

“We work in partnership with our broker partners and they told us that a buy-to-let range was important so we developed one as soon as we could, within our first year of trading.

“By creating strong partnerships, and listening to our brokers every step of the way, we’re continuing to build a strong mortgage proposition.”

Product highlights include 5-year fixes for purchase to 75% LTV at 3.06% with no fee, 2.81% with a £995 fee and 2.71% with a £1,995 fee.

Meanwhile 2-year fixes for purchase stand at 2.61% with no fee, 2.05% with a £995 fee and 1.88% with a £1,995 fee.

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