GB Bank has expanded its buy-to-let (BTL) offering to foreign nationals and expat clients who do not hold UK residency, but hold a UK bank account.

Foreign nationals can now apply for loans up to £20m with a maximum loan-to-value (LTV) of 75%, regardless of whether they have a UK income or own property in the UK.

There are no minimum income thresholds, and it is open to first-time landlords subject to a maximum loan of £7.5m.

The proposition supports 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 applies 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 chief executive officer Mike Says comments: “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.”