GB Bank has launched a new bridging finance range aimed at providing fast and flexible funding for property investors, with rates starting from 0.79% per month.
The range, which covers residential, semi-commercial and commercial properties, offers loans between £500,000 and £4 million with terms of 12 to 18 months. Arrangement fees are set at 2% and the minimum interest period is six months.
Rates for residential properties start from 0.79% per month up to 65% loan-to-value (LTV), rising to 0.89% for loans up to 75% LTV. For semi-commercial properties, pricing begins at 0.99% up to 65% LTV and 1.09% up to 75% LTV. Commercial assets will be funded up to 60% LTV with rates determined on a case-by-case basis.
The bank will lend across England, Wales and mainland Scotland to a broad range of borrowers, including individuals, limited companies, LLPs, special purpose vehicles and trusts. Lending is available for various purposes, including developer exit loans, auction purchases, portfolio stabilisation, permitted development projects and light to medium refurbishments.
Eligible property types include houses, flats, HMOs, multi-unit freehold blocks, offices, retail units and hotels. The lender will also consider applications from UK and foreign nationals with a UK bank account, including first-time investors assessed individually.
GB Bank, which provides up to £20 million in bespoke funding for UK businesses and investors, said the new range reflects its ambition to become a competitive force in the short-term lending space.
Pankaj Thukral, chief lending officer at GB Bank, said: “Our new bridging range not only highlights the breadth of cases we are able to support, but also how competitive we can be across residential, semi-commercial and commercial assets.
“We recognise that speed and flexibility are critical in today’s market. Whether your clients are purchasing, refinancing, or funding refurbishment works, our bridging loans are designed to help you help them act quickly and seize opportunities.”
