GB Bank has reduced rates across its Buy-to-Let core range, cutting 2- and 3-year fixed rates by 25 basis points and 5-year fixed rates by 20 basis points.
Available immediately through intermediaries, the reductions further strengthen the bank’s recently launched core range, with rates now starting from 4.69% at 65% LTV and 4.92% at 75% LTV.
GB Bank’s core range is available 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 125% interest cover ratio (ICR) for basic rate taxpayers, limited companies or SPVs, 145% for higher rate taxpayers and 130% for foreign nationals & expats, with top-slicing considered for the right client.
The bank’s criteria for foreign national and expat clients includes lending to worldwide residents, subject to exclusions, with no UK residency, however a UK bank account is required. There is no minimum income or UK property ownership requirement.
Bespoke loans continue to be available up to £20 million and 75% LTV for eligible cases.
A spokesperson says: “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 – and we’re pleased to be building on that momentum with these rate reductions.”
