Sainsbury’s Bank launches first buy-to-let range

Sainsbury’s Bank has launched its first range of buy-to-let mortgages, which will only be available through its broker network.

The new products are available for purchases and remortgages. However, they will only be available to landlords with a maximum portfolio of three mortgaged buy-to-let properties.

Sainsbury’s Bank is offering two and five-year fixed-rate lending options. Lending is available up to £1m at 60 per cent LTV, and up to £500,000 at 75 per cent LTV.

For remortgaging it is offering a two-year fix at 60 per cent LTV, priced at 2.3 per cent, with no fee, or at 1.72 per cent with a £995 fee.

For purchases it is offering a five-year fix at 2.66 per cent, again at 60 per cent LTV. This has no fee. At this same LTV it is also offering a five-year fixed rate of 1.49 per cent with a £1,995 fee.

Sainsbury’s Bank is also launching a consumer buy-to-let mortgage deal for accidental landlords who have difficulty selling their property.

Sainsbury’s Bank head of banking David Buxton says: “We work in partnership with out broker partners and they told us a buy-to-let range was important. [These products] are designed to help smaller investors and non-portfolio landlords.”



Over-65s have an average £86,000 in mortgage debt

The level of outstanding debt owed by over-65s who are still paying back a mortgage reached an average of £86,000 this year, an increase of 13 per cent over the past three years, according to a new report. The study by the Centre for Economics and Business Research (Cebr) commissioned by equity release lender More […]


Exclusive: UTB enters first charge mortgage market

United Trust Bank has launched into the first charge residential mortgage market with what it’s calling a ‘mini-mortgage’ product. The second charge specialist has added a first charge product range that allows customers to release equity from an unencumbered property, with loans available from £5,000 to £100,000 and up to 75 per cent LTV. The […]

Abe and Modi

India: Modi, reform and the oil price fall

Nearly 12 months since sweeping to power, prime minister Narendra Modi has overseen a significant turnaround in India, which is now on track to become one of the most pro-growth, pro-investment economies in Asia. While the market has rallied 48 per cent over the last year in response to Modi’s reform agenda, what is the potential for further progress?


News and expert analysis straight to your inbox

Sign up