The State Bank of India (UK) Ltd (SBI UK) has launched its green tracker mortgage products range for applicants that are purchasing or re-mortgaging a property with an 'A', ‘B’ or ‘C’ EPC rating.
The products will be available for individuals and SPV/LLP/Ltd co-applicants for standard properties.
The two-year tracker rates are offered from 5.00% (BBR + 2.75%), with up to 70% LTV.
SBI UK's executive director and deputy CEO Sanjay Pandey said, "We are happy to come back in the market to help landlords in this crucial time. Our tracker products are well placed to allow landlords to make a conscious decision on their buy-to-let transactions. With our Green Range, SBI UK continues to support the UK’s mission to protect the environment.”
With a rich heritage spanning 200 years, the SBI is one of the top 50 largest banks in the world. It is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers, and employees.
The Indian government itself is the largest shareholder of this Fortune 500 company, with 58.60% ownership.
SBI UK has been operating in the UK for almost 100 years and has grown to become the largest Indian bank in the UK, as well as being the largest international operation of SBI.
SBI (UK) Ltd has 12 branches across the UK at present which are open 7 days a week, covered by the Financial Services Compensation Scheme.
For full details, see the SBIUK Intermediary website here.
UK footfall fell 1.8 per cent in September year-on-year, with high street visits down 2.5 per cent.
Consumer confidence dropped to -10.4 per cent in Q2 2025, its lowest level since early 2024.
Last year's Budget added £5bn in employment costs to the retail industry.
Job security sentiment declined by 4.8 percentage points, falling below the long-term average.
Footfall figures decline
Consumer caution ahead of the upcoming budget has led to a notable fall in UK high street footfall, as rising employment costs and subdued spending weigh heavily on retailers, according to new figures from the British Retail Consortium (BRC).
The BRC reported a slowdown in shopper visits across most retail locations, signalling growing concern among consumers over job security and personal debt.
London tube strikes in mid – month and disruption caused by storm Amy, has further reduced footfall in key shopping areas.UK footfall fell by 1.8 per cent in September compared with the same month last year, a sharper decline than the 0.4 per cent drop seen in August, according to BRC-Sensormatic data. High street visits were down 2.5 per cent year on year, while footfall at retail parks and shopping centres fell by 0.8year and 2 per cent respectively.
The decline comes as retailers brace for another challenging quarter, with chief executive Helen Dickinson warning that the government’s fiscal decisions are limiting their ability to invest. “Retailers’ ability to invest in local communities and high streets has been hampered by last year’s Budget, which added £5 bn in employment costs to the industry, in addition to a new packaging tax,” she said.
Consumer confidence weakens
Parallel data from Deloitte’s Consumer Confidence Index reinforces this cautious outlook. Consumer confidence fell by -2.6 percentage points to -10.4 per cent in Q2 2025, marking its lowest level since early 2024.
Sentiment around job security declined sharply by -4.8 percentage points, slipping below the long-term average for the first time in two years, while confidence regarding debt levels dropped by -3.7 percentage points, reflecting the burden of higher household bills and seasonal spending pressures.
Deloitte noted that sentiment about the economy remains deeply negative at -51per cent, far below the -32.5 per cent recorded a year ago. As households tighten budgets, essential spending has slipped, though consumers continue to prioritise discretionary experiences such as travel and holidays.
Linda Ellett, head of consumer, retail & leisure KPMG, observed that “cost continues to influence buying behaviour and price is the main purchasing driver for 68 per cent of people when buying everyday items.”
With food and utility inflation still biting, and employers under strain from higher national insurance and minimum wage costs, retailers are caught in a tightening squeeze. Retailers are now pinning hopes on a supportive November Budget to ease cost pressures and restore some confidence before the crucial Christmas trading period.
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