Gable Group has secured a long-term institutional funding line from a European bank to support the launch of a range of high-LTV mortgage products, up to and including a 100% LTV option.
The products will be distributed through the intermediary market and selected housebuilder partnerships, and are aimed at first-time buyer clients who can afford repayments but cannot save a deposit.
Gable Group is targeting up to £250 million of deployment over the next 12 months, with the ambition and funding to scale this in subsequent years.
The products will be underpinned by Gable Group's insurance subsidiary, Gable Sure, enabling it to develop products which do not require a cash deposit, guarantor, any other form of collateral security.
Founded in April 2024 and headquartered in London, Gable Group is led by co-CEOs Joshua Weinstein and Chris Eaton. Joshua’s previous roles include six years at Investec, followed by two years at ASK Partners, where he setup and headed the institutional markets team. Chris has over 20 years’ experience in banking and financial services, including ten years at Barclays in a range of senior treasury and risk roles and more recently five years building Perenna Bank as deputy CEO.
Joshua Weinstein, founder and co-CEO of Gable Group, said: “Millions of UK renters are not locked out of homeownership because they cannot afford a mortgage. They are locked out by unaffordable deposit requirements.
“No-and-low-deposit mortgages have an essential role to play in today’s modern, well-regulated market, whilst also supporting the government’s new-build home target. Securing the long-term backing of a major European bank is a strong endorsement of the platform and products we have built and the growth prospects for this part of the funding stack.”
Chris Eaton, co-CEO of Gable Group, added: “Our platform allows our partners to deliver a rigorous, technology-led underwriting process with long-term institutional funding, within an FCA-regulated framework, to enable hard working, aspirational professionals across the UK to achieve their homeownership dreams.”
