Santander set to loosen its buy-to-let acceptance criteria
Santander for Intermediaries is finally set to loosen its buy-to-let acceptance criteria in a move designed to increase their lending volumes.
Mortgage Strategy magazine reports that from 7 April Santander will start offering buy-to-let mortgages to self-employed applicants, although they have not released their minimum income requirements.
At the moment Santander is one of the largest mortgage lenders regularly offering leading buy-to-let mortgages, but they are not available to self-employed borrowers.
Trinity Financial has access to Santander's lowest two-year buy-to-let fixed rate mortgage at 2.99%. It has a £1,495 arrangement fee and borrowers will need a 40% deposit to access it. The maximum loan size is £750,000 and the APR is 4.6%.
After the fixed rate period the mortgage will revert to the lenders standard variable rate, currently 4.74%.
If you would like help to secure a buy-to-let mortgage, call us on 020 7016 0790.
March 27, 2014
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