State Bank of India UK has announced that its buy-to-let product range will now be available through Legal & General Mortgage Club.

The bank says that it offers products for limited companies, expats and HMOs up to 75 per cent LTV. It adds that applications from newly formed SPVs, and individual to SPV transfers are accepted.

Furthermore, the bank outlines that it has a cap of £5m BTL exposure to an entity and individual, but there is no restriction on number of properties.

State Bank of India UK head of national sales Stephen Banks says: “We are incredibly excited to be working with Legal and General Mortgage Club. They have an excellent long-standing reputation the UK mortgage market.

“The Bank has doubled its BTL book in last 18 months reflecting the growth of its network for customers, and Legal & General Mortgage Club would help us attract more customers as we continue to offer a range of BTL mortgage products at attractive rates in the market.”

Legal & General Mortgage Club head of lender relationships Danny Belton adds: “We are delighted to have State Bank of India UK buy to let mortgage products available to our members, especially since the bank offers a competitive BTL mortgage range. We look forward to working closely in partnership to develop products and criteria further.”