SFI enhances B2L range
Enhancements include a change to the buy-to-let affordability rate from 6% to 5% and an increase in the maximum loan size per property from £500,000 to £750,000.
Phil Cliff, director of retail assets for Santander for Intermediaries, said: “We entered the buy-to-let market at the end of 2011 and have seen strong demand from intermediaries and their clients for our range.
“The buy-to-let market has seen strong growth over the past couple of years and we are keen to increase our support of this market. We are therefore delighted to be announcing enhancements to the lending criteria for our buy-to-let offering.”
Santander for Intermediaries new range of 2-year trackers are available up to 90% loan to value and are early repayment charge free.
Highlights of the range include a 2.19% product for up to 60% LTV, a 3.69% product for up to 85% LTV and a 4.49% product for up to 90% LTV.
Cliff said: “As one of the UK’s leading lenders, we want to give your clients the freedom to choose a mortgage that has features to meet their needs now and in the future.
“Extending our ERC-free proposition to our 2-year tracker range reinforces our new ERC-free product range, giving customers the flexibility to switch to another mortgage product more suited to their needs, when the time is right for them.”