The State Bank of India (UK) Limited has announced a major round of interest rate cuts across its buy-to-let mortgage products.
The revisions apply to its full range of buy-to-let mortgages, including standard residential buy-to-let, limited company SPV products, and HMO finance, with some of the most substantial reductions seen in the HMO segment.
The changes also extend to pricing for multi-unit freehold blocks (MUFBs).
The update includes rate cuts of up to 35 basis points on 5-year fixed-rate products in the standard range, and reductions of up to 40 basis points in the SPV category.
HMO products see the sharpest adjustments, with 2-year fixed rates down by as much as 90 basis points and 5-year products cut by up to 50 basis points.
Non-green properties now attract a flat 5.15% rate on 5-year HMO mortgages, while green properties benefit from a further 10 basis point discount.
Fees have also been revised across several LTV tiers. For 5-year HMO products at 50% and 65% LTV, fees have been reduced to 1.50%.
Limited company borrowers taking out larger loans will also benefit from the introduction of a simplified flat fee structure.
Pricing for MUFBs is now broadly aligned with the revised HMO range, marking a consistent approach across more complex buy-to-let investment vehicles.
Abhishek Sahay, chief business officer at SBI UK, said the refreshed range underlines the bank’s long-term support for landlords and commitment to sustainability.
“Our refreshed buy-to-let product range reflects our dedication to supporting landlords through more attractive lending solutions,” he said.
“We understand the importance of service standards and have added capacity to our underwriting team to process applications in a timely manner.
“We recognise the crucial role landlords play in the UK housing ecosystem, and these rate reductions are designed to help them thrive in a dynamic market.
“Additionally, our ongoing commitment to green lending highlights our focus on sustainability and reducing the carbon footprint of the housing sector.”
