GB Financial institution has opened up entry to international nationals and expatriate shoppers who don’t maintain UK residency, however maintain a UK checking account.
Overseas nationals can now apply for loans as much as £20 million with a most LTV of 75%, no matter whether or not they have a UK revenue or personal property within the UK.
There aren’t any minimal revenue thresholds, and first-time landlords are welcomed topic to a most mortgage of £7.5m.
Mike Says (pictured), chief govt at GB Financial institution, mentioned: “We’re seeing rising demand from worldwide traders who recognise the power and stability of the UK property market.
“Our enhanced buy-to-let proposition displays our dedication to offering accessible, agile and expert-led lending options, significantly on excessive worth investments.
“By eradicating the UK residency barrier, we are able to say ‘sure’ to extra complicated circumstances that mainstream lenders would decline.”
The proposition helps a variety of property sorts, together with HMOs and multi-unit blocks with no most variety of bedrooms or models, in addition to mixed-use belongings. GB Financial institution will think about complicated possession buildings, together with abroad particular function autos and trusts.
The revised standards apply to candidates from most nations worldwide, excluding these listed on the FATF blacklist or topic to worldwide sanctions.
A minimal curiosity protection ratio of 130% is required, and pricing is decided on a case-by-case foundation.
