In December, it made the decision to extend its distribution and began rolling its proposition out to the intermediary market in January.
This follows the relaunch of its buy-to-let range through the branch network in April last year.
A spokesperson for SBI said: “SBI UK rolled out its new buy-to-let offer last year, originally to be distributed through its network of UK branches.
“Since December 2014, however, we have been in negotiations to partner with a selection of hand-picked brokers, intermediaries and IFAs.
“Discussions with these partners are quite advanced, with many already signed-up.”
Andy Young, chief executive of TBMC, said: “Following the launch of Fleet Mortgages in January, it’s good to see another new lender entering the buy-to-let market and I believe we are likely to see a few more over the coming months.
“More lenders generally means more products and greater competition which is always good news for landlords and, of course, advisers. However, with over 700 buy-to-let mortgage products already available to landlords in the marketplace, I hope new lenders support the areas of the market that are currently underserved. We need more support for HMO finance, portfolio funding and loans to limited companies.
SIB’s products are the same as those available through their branch network.
Landlords can borrow between £100,000 and £1.5m and loan-to-values (LTV) stretch up to 70%.
SBI is offering five-year fixed rates and three-year fixed and tracker mortgages. The five-year fixed rate range starts from 3.69% at 60% LTV with a £199 booking fee and a £795 arrangement fee. Landlords can choose a cheaper fee option by just paying the £199 booking fee to get a rate of 3.79%, also at 60% LTV.
