The core range includes 2-, 3- and 5-year fixed-rate products, with loan-to-value (LTV) options from 65% to 75%.
GB Bank has made its simplified core buy-to-let (BTL) range available through Iress’ Xplan Mortgage sourcing system, giving intermediaries access to the lender’s off-the-shelf products through the platform.
The move allows brokers using Xplan Mortgage to source GB Bank’s recently launched buy-to-let range, which has been designed to provide clearer product options while maintaining the lender’s ability to support more complex borrower profiles, assets and ownership structures.
The core range includes 2-, 3- and 5-year fixed-rate products, with loan-to-value (LTV) options from 65% to 75%.
Rates start at 4.94%, with loan sizes ranging from £500,000 to £3m. Brokers will receive a procuration fee of 0.75%.
Affordability is assessed at a 125% interest cover ratio for basic-rate taxpayers, limited companies and special purpose vehicles (SPVs), 145% for higher-rate taxpayers and 130% for foreign nationals and expats. Top-slicing may also be considered.
The products are available to first-time landlords, professional landlords, limited companies and SPVs.
GB Bank will also consider houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs) and mixed-use properties.
For foreign national and expat borrowers, the bank said it would lend to worldwide residents, subject to exclusions, with no UK residency, minimum income or UK property ownership requirement, although applicants must have a UK bank account.
Alongside the core range, GB Bank continues to offer bespoke buy-to-let and bridging loans between £3m and £20m.
Nick Allen (pictured), 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.
“We know intermediaries need clarity, speed and confidence when placing more complex buy-to-let cases.
“By adding these products to Xplan Mortgage, we’re making our proposition more visible and easier to source, while still giving brokers access to the flexible, pragmatic approach that sits at the heart of GB Bank.
“Our new range gives intermediaries the best of both worlds: the certainty of a defined product set, backed by experienced underwriters, responsive service and our ability to look at cases on their own merits.”
Joshua Hart, senior business development manager for sourcing at Iress, added: “We’re thrilled that GB Bank has chosen to make its new buy-to-let range available on Xplan Mortgage.
“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.”