Santander improve their buy-to-let acceptance criteria

by Aaron Strutt

Nov 21 2013

Santander for Intermediaries has loosened their buy-to-let lending criteria as they look to offer more mortgages to landlords and property investors.

The lender is now accepting applications from existing landlords with seven properties, higher than the previous limit of five properties. Santander has also improved their buy-to-let affordability calculation from 6% to 5% and this should allow landlords to borrow more money.

Aaron Strutt, product manager at Trinity Financial, says: “We have access to Santander's two-year fixed rate at 2.99% and it is available to landlords with a 40% deposit. The maximum loan size is £750,000 and the arrangement fee is £1,495.”

If you would like help to secure a mortgage through Santander, call us on 020 7016 0790.

November 21, 2013