GB Bank has launched its simplified core buy-to-let (BTL) range on the Iress Xplan Mortgage sourcing system, giving intermediaries faster access to the bank’s deals.
The range includes two-, three- and five-year fixed rates, with loan to value (LTV) options available between 65% and 75%. Rates start from 4.94%, with loans available from £500,000 to £3m and a 0.75% procuration fee payable to brokers.
Affordability is assessed on 125% interest cover ratio (ICR) for basic-rate taxpayers and limited companies, 145% for higher-rate taxpayers and 130% for foreign nationals and expats, and top-slicing can also be considered.
Deals are available to first-time landlords, professional landlords, limited companies and special purpose vehicles (SPVs). The bank will also consider houses in multiple occupation (HMOs), multi-unit blocks (MUBs) and mixed-use properties.
Nick Allen, head of marketing, product and proposition at GB Bank, said: “Making our new simplified core product range available on Xplan Mortgage is an important step in widening intermediary access to GB Bank and making it easier for intermediaries to find the right solution for their clients.”
Joshua Hart, senior business development manager (BDM) for sourcing at Iress, added: “As demand for buy to let continues, brokers value greater product choice and straightforward propositions that help them find the right solutions for their clients. We fully support the need for simpler, clearer product options, and GB Bank’s new range will be a welcome addition to Xplan Mortgage.”
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Earlier this month, GB Bank launched also launched a bridging finance range alongside BTL.