State Bank of India UK (SBI UK) is a subsidiary of the Indian bank that operates 12 branches in the UK as well as providing online and app services. They provide cheap and easy money transfers between the UK and India. State Bank of India offers personal and business banking, with business banking including current and savings accounts as well as mortgages.
State Bank of India Commercial Mortgage Options
State Bank of India offers buy to let and commercial mortgages:
- Offers commercial owner-occupier and commercial investment mortgages
- Can be used for commercially let properties
- Suitable for improvements or refinancing of an existing commercial property
- Up to 70% LTV
- Arrangement fees of 2%
- Early repayment charges can apply
Buy to Let Mortgages
- Offers a choice of fixed-rate mortgages over 2, 3 or 5 years
- Standard buy to let mortgages
- Specialist buy to let mortgages for SVP, LLP, limited companies and individuals
- Ex-pat buy to let mortgages
- HMO mortgages
- Up to 75% LTV
- Arrangement fees apply on most products
- Early repayment charges apply
State Bank of India Commercial Mortgage Eligibility
State Bank of India doesn’t state what their commercial mortgage eligibility criteria is.
State Bank of India Commercial Mortgage Rates
State Bank of India’s commercial mortgage rates vary depending on the type of loan, property and circumstances but they work on a baseline pricing of 3%.
Their buy to let mortgage rates vary from 2.50-3.30%.
State Bank of India Commercial Mortgage Calculator
State Bank of India doesn’t have a commercial mortgage calculator.
State Bank of India Commercial Mortgage Reviews
State Bank of India appears on several of the leading review sites but the volumes on some of these sites are very low such as on Review Centre and Smart Money People that only have 1 or 2 reviews on them which skews the scores.
Trustpilot has a reasonable amount of customer reviews, but these reviews are for the organisation as a whole not really for the UK subsidiary. Most of the reviews are negative with 67% of reviewers scoring them as bad. Comments included issues with customer service and problems making foreign currency exchanges.
How To Apply For A State Bank of India Commercial Mortgage?
If you want to apply for a mortgage from the State Bank of India you can apply through an intermediary.
- Offers a variety of buy to let mortgages
- Commercial mortgages catering for owners and investors
- Provide LTV up to 75% on their mortgages
- Not many branches
- Reviews were overall fairly critical