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L&G club members get access to State Bank of India UK buy-to-let deals

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  • 09/01/2020
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L&G club members get access to State Bank of India UK buy-to-let deals
State Bank of India UK’s buy-to-let mortgage range will now be available to members of the Legal & General Mortgage Club.

The lender offers buy-to-let deals up to 75 per cent loan to value for both individual and portfolio landlords, as well as a manual underwriting process.

It has a cap of £5m buy to let exposure to any entity/individual, but no restriction applies on the number of properties.

Stephen Banks, head of national sales for State Bank of India UK, noted the lender had doubled the size of its buy-to-let book over the last 18 months, and argued that the partnership with L&G would allow it to reach more borrowers.

Danny Belton (pictured), head of lender relationships at Legal & General Mortgage Club, said: “We are delighted to have State Bank of India UK buy-to-let mortgage products available to our members, especially since the bank offers a competitive and compelling buy-to-let mortgage range.  We look forward to working closely in partnership to develop products and criteria further.”

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