GB Bank has expanded its buy-to-let proposition, opening up access to foreign nationals and expatriate clients who do not hold UK residency, but hold a UK bank account.
Foreign nationals can now apply for loans up to £20 million with a maximum LTV of 75%, regardless of whether they have a UK income or own property in the UK. There are no minimum income thresholds, and first-time landlords are welcomed subject to a maximum loan of £7.5m.
The proposition supports a wide range of property types, including HMOs and multi-unit blocks with no maximum number of bedrooms or units, as well as mixed-use assets. GB Bank will consider complex ownership structures, including overseas special purpose vehicles and trusts.
The revised criteria apply to applicants from most countries worldwide, excluding those listed on the FATF blacklist or subject to international sanctions. A minimum interest coverage ratio of 130% is required, and pricing is determined on a case-by-case basis to reflect the unique circumstances of each client.
GB Bank provides bespoke specialist solutions for complex borrowing requirements on residential and semi-commercial property investments, with lending available to UK companies, individuals, offshore structures and foreign nationals.
Mike Says (pictured), CEO at GB Bank, commented: “We’re seeing increasing demand from international investors who recognise the strength and stability of the UK property market. Our enhanced buy-to-let proposition reflects our commitment to providing accessible, agile and expert-led lending solutions, particularly on high value investments. By removing the UK residency barrier, we can say ‘yes’ to more complex cases that mainstream lenders would decline.”
