Sainsbury's Bank launch 'accidental landlord' BTL product

Sainsbury’s Bank has announced that it is breaking into the buy-to-let market with the launch of launch of some new products solely available via its network of broker partners.

Related topics:  Landlords
Warren Lewis
24th May 2018
Landlords

According to the lender, the products are available across two and five-year fixed terms with lending available up to £1m up to 60% LTV and £500k up to 75% LTV.

Lending is available for purchase or remortgage to individual borrowers with a maximum portfolio of three mortgaged buy-to-let properties.

The Bank is also launching a consumer buy-to-let product aimed at accidental or non professional landlords as part of the launch.

David Buxton, head of banking at Sainsbury’s Bank, said: “We are delighted to introduce our buy-to-let and consumer buy-to-let products as we’re keen to begin to help smaller investors and non-portfolio landlords manage their mortgage outgoings.

We work in partnership with our broker partners and they told us that a buy-to-let range was important so we developed one as soon as we could, within our first year of trading. By creating strong partnerships, and listening to our brokers every step of the way, we’re continuing to build a strong mortgage proposition.”

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