GB Bank has expanded its buy-to-let (BTL) lending to include foreign nationals and expatriate clients without UK residency, provided they hold a UK bank account.
The new criteria allows international investors to borrow up to £20m with a maximum loan-to-value (LTV) of 75%.
Applicants do not need a UK income or existing property, and there is no minimum income requirement.
First-time landlords can also apply, subject to a maximum loan of £7.5m.
Lending is open to a wide range of property types, including houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs) and mixed-use assets.
There is no cap on the number of bedrooms or units.
GB Bank will also consider complex structures, such as overseas special purpose vehicles and trusts.
The updated approach is available to applicants from most countries, apart from those on the Financial Action Task Force (FATF) blacklist or under international sanctions.
A minimum interest coverage ratio of 130% is required, with pricing set on a case-by-case basis.
Mike Says (pictured), CEO at GB Bank, said: “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.”
