GB Bank has expanded its BTL proposition, making this accessible to foreign nationals and ex-pat clients with no UK residency.
However, these applicants are still required to hold a UK bank account.
Foreign nationals can now apply for loans of up to £20m with a maximum LTV of 75%, regardless of whether or not they have a UK income or own UK property.
There are no minimum thresholds and first time landlords can access loans of up to £7.5m.
This is applicable for properties including HMOs and MUFBs with no maximums in terms of bedrooms or units.
A minimum interest coverage ratio of 130% is required, and pricing is determined on a case-by-case basis to reflect the circumstances of each client.
“We’re seeing increasing demand from international investors who recognise the strength and stability of the UK property market,” said Mike Says, CEO at GB Bank (pictured above).
“Our enhanced BTL 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.”
