GB Bank has introduced an intermediate core product range.
The bank says the offering gives intermediaries “a clearer set of product options,” in addition to the ability to consider more complex borrower profiles, assets and ownership structures.
The core buy-to-let (BTL) range includes fixed interest rates of two, three and five years, with Loan-to-Value (LTV) options available between 65% and 75%.
Rates start from 4.94%, with loans available from £500,000 to £3 million, and a 0.75% proxy fee payable to brokers.
The bank’s bespoke proposal includes loans between £3 million and £20 million.
Affordability is assessed based on an interest coverage ratio (ICR) of 125% for basic rate taxpayers, limited liability companies or SPVs, 145% for higher rate taxpayers and 130% for foreigners and expats. In addition, top slicing can be considered.
The core bridging range starts at 0.79% per month for residential and 0.99% for semi-commercial properties, with maximum LTVs of 75%.
Both ranges are available for starters, professional landlords, limited liability companies and SPVs.
GB Bank will also consider multi-occupancy houses (HMOs), multi-unit blocks, as well as mixed-use properties including trusts and SPVs.
The bank’s criteria for foreign and expat customers include lending to residents anywhere in the world, subject to exclusions, without requiring UK residency.
There is no minimum income or UK property requirement, and bespoke loans remain available up to £20 million and 75% LTV for eligible cases.
GB bank head of marketing, product and proposition Nick Allen says: “At GB Bank we have built our reputation on understanding complex lending matters and delivering practical, workable solutions for brokers and their customers.”
“This new core range brings together the best of both worlds: the clarity and certainty of a defined product offering, in addition to the flexible, pragmatic approach that sets us apart.”
“Crucially, this is backed by our commitment to fast, efficient execution and a highly responsive service for brokers. By combining speed, consistency and relationship-oriented support, we are offering brokers a credible alternative for clients who need certainty, agility and tailored solutions in today’s market.”