GB Bank cuts core buy-to-let rates

GB Bank has reduced rates across its core buy-to-let range, cutting two and three-year fixed rates by 25 basis points and five-year fixed rates by 20 basis points.

The reductions 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 SPVs. GB Bank will also consider 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 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, 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.

Nick Allen, head of marketing, product and proposition at GB Bank, said: "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.

“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."