SBI marches to home loan sector in UK
By Joseph Samson
Sep 27, 2011
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The largest lender of the country, State Bank of India is now focusing its entry into the mortgage market of the United Kingdom.

In a bid to expand its retail business even further, the bank has planned to take this step. The lender would begin with the category of home loans called buy-to-let mortgages.

These are loans for landlords which will be offered in the range of 50,000 pounds to 1.5 million pounds.

The loan to value ratio in this case will be upto 60%.

"Our target market is all UK property investors, not just the Indian community," a statement released by the bank said.

"We have decided to launch this project now as the mortgage market has changed and our more prudent lending criteria can be competitive," the bank said.


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