Sainsbury’s Bank cuts rates on BTL products

Sainsbury's Bank has cut rates across its buy-to-let products, amid strong competition among mortgage providers.

New buy-to-let rate deals include a five-year fixed mortgage product at 60% loan-to-value (LTV) which has been reduced from 2.16% to 1.99%, while the 75% LTV five-year fix BTL offer has been cut from 2.71% to 2.47%.

Sainsbury’s Bank entered the buy-to-let sector in May last year when it extended its mortgage range with the launch of two-year and five-year buy-to-let products for landlords with a portfolio of up to three properties.

The purchase and remortgage products, available only through the bank’s network of brokers, provide loans up to £1m at 60% LTV and £500,000 up to 75% LTV.

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