Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

GB Bank Reduces Buy-to-Let Rates Across Core Range

GB Bank has announced reductions to its core buy-to-let (BTL) mortgage rates, with immediate effect. The bank has cut its two- and three-year fixed rates by 25 basis points and its five-year fixed rates by 20 basis points.

The updated rates now start from 4.69% at 65% loan to value (LTV) and 4.92% at 75% LTV. These changes apply to the bank’s recently launched core BTL range, which is available to first-time landlords, professional landlords, limited companies, and special purpose vehicles (SPVs).

GB Bank’s core range also covers a variety of property types, including houses in multiple occupation (HMOs), multi-unit blocks (MUBs), mixed-use properties, and complex overseas structures such as overseas trusts and SPVs.

Affordability assessments are set at a 125% interest cover ratio (ICR) for basic-rate taxpayers, limited companies, and SPVs. For higher-rate taxpayers, the ICR is 145%, and for foreign nationals and expats, it is 130%. The bank will also consider top-slicing for suitable clients.

For foreign national and expat clients, GB Bank lends to worldwide residents (subject to exclusions) without requiring UK residency. However, applicants must have a UK bank account, but there is no minimum income or UK property ownership requirement.

Earlier in June, GB Bank launched its simplified core BTL range on the Iress Xplan Mortgage sourcing system.

These changes may be relevant to letting agents and inventory clerks working with landlords seeking new or more competitive BTL mortgage options, especially those managing complex property portfolios or overseas structures.