GB Bank has launched dual legal representation for eligible buy-to-let (BTL) and bridging refinance applications.

The arrangement enables a single approved legal panel to act for both the borrower and GB Bank.

The bank says it aims to reduce the delays associated with separate representation.

Dual legal representation is available for standard BTL and bridging property refinances where the total facility or group exposure is no more than £2 million.

Borrowers and ultimate beneficial owners must be UK-based, including foreign nationals with UK residency rights and is also available for those applications where title indemnity insurance is used.

The approved panel participating in the programme are Ward Hadaway, Lester Aldridge, Jury O’Shea and Harold Benjamin.

GB Bank chief lending officer and deputy chief executive Pankaj Thukral says: “The legal process can be a source of delay for completing a refinance application and often, having separate firms acting for the borrower and lender adds an additional layer of co-ordination that a single firm could manage more efficiently.”

“Introducing dual representation gives us a practical way to simplify that part of the transaction. By working with an experienced panel and setting clear eligibility requirements, we can offer intermediaries and borrowers a more streamlined route whilst maintaining the legal checks each case requires.”