State Bank of India (UK) Limited Live
Build eFO 8.6.0.HF17 (21189-49) - rel(w): 15Feb2020
With immediate effect SBI(UK) Ltd will be accepting new applications within limited criteria as set out below,
subject to further review on 31 May 2020, or until such time as physical valuations can be undertaken, whichever is the earlier.
You will now be able to progress cases for DIP Approval that satisfy the following:-
- 1. Maximum Loan amount £500,000
- 2. Total portfolio LTV of the overall portfolio of the customer to be maximum 70% LTV
- 3. In cases where the property offered as security is subject to a payment holiday, release of funds will be subject to evidence that payment of rental income has restarted
- 4. When calculating the portfolio stress, mortgage payment will be considered for calculation and rent will only be considered if actually received.
Any applications outside of the above criteria will not be progressed.
The movement of cases between all other stages will continue as normal, except where a case cannot progress due to valuation where it will be placed on hold for the time being.
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