GB Bank cuts rates across core BTL range

Published on

GB Bank has reduced rates across its buy-to-let core range, with rates now starting from 4.69% at 65% LTV and 4.92% at 75% LTV.

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.

Nick Allen (pictured), 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.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Green rent cap plan could squeeze buy-to-let affordability

Green Party proposals to restrict private rent increases for three years could make it...

Firms’ confidence in FCA rises as satisfaction hits 79%

Confidence in the Financial Conduct Authority has increased, with almost eight in 10 regulated...

Westmarq challenges surveying ‘duopoly’ as it targets lender business

Westmarq has challenged mortgage lenders to move more of their valuation business away from...

Advice firms step up technology use as integration remains key obstacle

Financial advice firms are taking a more proactive approach to technology, but integrating new...

Check launches mortgage readiness tool for prospective borrowers

Check.co.uk has added a mortgage readiness feature to its app, bringing together credit, affordability,...

Latest publication

Other news

Green rent cap plan could squeeze buy-to-let affordability

Green Party proposals to restrict private rent increases for three years could make it...

Firms’ confidence in FCA rises as satisfaction hits 79%

Confidence in the Financial Conduct Authority has increased, with almost eight in 10 regulated...

Westmarq challenges surveying ‘duopoly’ as it targets lender business

Westmarq has challenged mortgage lenders to move more of their valuation business away from...