GB Bank has cut rates across its buy-to-let core range, reducing 2- and 3-year fixed rates by 25 basis points and 5-year fixed rates by 20 basis points. The reductions, available immediately through intermediaries, bring rates to 4.69% at 65% LTV and 4.92% at 75% LTV.
The core range is open to first-time landlords, professional landlords, limited companies and special purpose vehicles (SPVs). GB Bank will also consider houses in multiple occupation (HMOs), multi-unit blocks, mixed-use properties and complex overseas structures, including overseas trusts and SPVs.
Affordability is assessed on a 125% interest cover ratio (ICR) for basic rate taxpayers, limited companies and SPVs, rising to 145% for higher rate taxpayers and 130% for foreign nationals and expats. Top-slicing is considered for the right client.
Foreign national and expat criteria extends to worldwide residents, subject to exclusions, with no UK residency, minimum income or UK property ownership requirement, though a UK bank account is required. Bespoke loans remain available up to £20m at 75% LTV for eligible cases.
“The launch of our core range marked an important step in making GB Bank’s proposition more accessible to brokers, combining the certainty of a defined product range with the flexible, pragmatic approach we’re known for,” said Nick Allen, head of marketing, product and proposition at GB Bank (pictured). “We’re pleased to be building on that momentum with these rate reductions.
He added, “Pricing is obviously a key consideration for brokers and their clients, and these cuts mean intermediaries can access even more competitive options across the range. At the same time, whilst rates are important, brokers also want confidence that complex cases will be understood and assessed on their merits. That’s exactly what GB Bank delivers, competitive products backed by experienced decision-makers and a relationship-led approach to lending.”