GB Bank has reduced core 65% LTV buy-to-let rates by 0.30% across two, three and five-year fixed rate products.
The refreshed range now includes two-year fixed rates from 4.39% with a 5% fee or 5.39% with a 3% fee, three-year fixed rates from 4.77% or 5.77%, and five-year fixed rates available from 5.53% or 6.13%, giving intermediaries a choice of pricing and fee structures to suit different client needs. Rates at 75% LTV remain unchanged.
The rate cuts also apply to GB Bank’s bespoke proposition at 65% LTV which is priced on a case-by-case basis for loans greater than £3m.
GB Bank's criteria allows first-time landlords, professional landlords, limited companies and SPVs. The bank will also consider HMOs, multi-unit freehold blocks, mixed-use properties and complex overseas structures, including overseas trusts and SPVs.
Affordability is assessed on a minimum 125% interest cover ratio (ICR) for basic rate taxpayers, limited companies or SPVs, 145% for higher rate taxpayers and 130% for foreign nationals and expats, with top-slicing considered.
The bank's criteria for foreign national and expat clients includes lending to worldwide residents, subject to exclusions, with no UK residency required, and clients must hold a UK bank account. There is no minimum income or UK property ownership requirement, and bespoke loans continue to be available up to £20 million and 75% LTV for eligible cases.
Nick Allen, head of marketing, product and proposition at GB Bank, said: "Following the positive response to our recent rate reductions, we're pleased to be making our 65% LTV range even more competitive. These latest changes ensure intermediaries have access to some of our strongest pricing yet, while continuing to benefit from the flexibility, speed and pragmatic underwriting that sets GB Bank apart.
"Competitive rates are important, but they're only part of the equation. Intermediaries also need confidence that complex cases will be handled with a solutions-led mindset, not treated as exceptions. By combining attractive pricing with experienced decision-makers and a relationship-driven approach, we're giving intermediaries the certainty that their clients' cases will receive the thoughtful consideration they deserve."
