GB Bank has cut its 65% LTV buy-to-let rates by an additional 0.30% across its 2, 3 and 5-year fixed rate products, sharpening pricing for intermediaries working with landlord clients.
The refreshed range gives brokers a choice of pricing and fee structures:
- 2-year fixed rates from 4.39% with a 5% fee, or 5.39% with a 3% fee
- 3-year fixed rates from 4.77% or 5.77%
- 5-year fixed rates from 5.53% or 6.13%
Rates at 75% LTV remain unchanged. The 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 cover a broad range of landlord types, including first-time landlords, professional landlords, limited companies and special purpose vehicles (SPVs). The bank will also consider houses in multiple occupation, multi-unit freehold blocks, mixed-use properties and complex overseas structures, including overseas trusts and SPVs.
Affordability is assessed using a minimum interest cover ratio (ICR) that varies by client type:
- 125% for basic rate taxpayers, limited companies or SPVs
- 145% for higher-rate taxpayers
- 130% for foreign nationals and expats, with top-slicing considered for the right client
For foreign national and expat clients, GB Bank lends to worldwide residents, subject to exclusions, with no UK residency required, though clients must hold a UK bank account. There's no minimum income or UK property ownership requirement, and bespoke loans remain available up to £20 million and 75% LTV for eligible cases.
Nick Allen, head of marketing, product and proposition at GB Bank (pictured), said the changes build on the lender's recent pricing momentum. "Following the positive response to our recent rate reductions, we're pleased to be making our 65% LTV range even more competitive," he said.
"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."
