Sainsbury’s reduces cost of buy-to-let deals

Sainsbury’s Bank, which only entered the buy-to-let sector last month, has cut rates across its two and five-year BTL products.

Rates have been reduced at the 75% LTV bracket on both the bank’s purchase and remortgage ranges, while remortgage products at 60% LTV have also been cut.

All products continue to come with £250 cashback and remortgage products also come with a free standard valuation.

New products, available at 75% LTV, include two-year fixed rates from 1.7% with a £1,995 product fee, 1.95% with a £995 product fee, and 2.36% with no product fee.

Five-year fixed rates have been cut to 2.59% with a £1,995 product fee, 2.71% with a £995 product fee, and 2.83% with no fee.

For remortgage products, two-year fixed rate products are available up to 60% LTV at between 1.45% and 2.11%.

Two-year remortgage rates at 75% LTV start from 1.73% with a £1,995 product fee, rising to 2.37% with no product fee.

Five-year fixed remortgage rates at 60% LTV have been reduced to 2.16% with a £1,995 product fee, rising to 2.3% with a £995 product fee and 2.53% with no fee.

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