GB Bank has reduced rates across its 65% LTV buy-to-let core range by 0.30%.
The cuts apply to the bank’s 2-year, 3-year and 5-year fixed rate products, with rates at 75% LTV remaining unchanged.
The refreshed range includes 2-year fixed rates from 4.39% with a 5% fee or 5.39% with a 3% fee. Three-year fixed rates are available from 4.77% or 5.77%, while 5-year fixed rates are available from 5.53% or 6.13%.
GB Bank said the changes give intermediaries a choice of pricing and fee structures to suit different client needs. The rate cuts also apply to its bespoke proposition at 65% LTV, which is priced on a case-by-case basis for loans above £3m.
The bank’s criteria includes first-time landlords, professional landlords, limited companies and special purpose vehicles. It 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 on a minimum 125% interest cover ratio for basic rate taxpayers, limited companies or SPVs, 145% for higher rate taxpayers and 130% for foreign nationals and expats. Top-slicing is also considered for the right client.
GB Bank’s criteria for foreign national and expat clients includes lending to worldwide residents, subject to exclusions, with no UK residency required. Clients must hold a UK bank account, but there is no minimum income or UK property ownership requirement.
Bespoke loans remain available up to £20m and 75% LTV for eligible cases.
Nick Allen, head of marketing, product and proposition at GB Bank, said: “Following the positive response to our recent rate reductions, we’re pleased to be making our 65% LTV range even more competitive.
“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.”