GB Bank has introduced dual legal representation for eligible buy-to-let and bridging refinancing applications, allowing one law firm to act for both the lender and borrower.

The arrangement applies to standard property refinances within the bank’s simplified buy-to-let and bridging product ranges, where the total facility or group exposure does not exceed £2 million.

By removing the need for separate legal firms, GB Bank aims to reduce the time and costs involved in completing refinancing transactions, while retaining the necessary legal checks.

Eligibility is restricted to cases where borrowers and ultimate beneficial owners are UK-based. This includes foreign nationals who have UK residency rights.

Applications involving title indemnity insurance can also qualify for the arrangement.

Four law firms have been appointed to the participating panel: Ward Hadaway, Lester Aldridge, Jury O’Shea and Harold Benjamin.

The change forms part of GB Bank’s wider development of its property-backed lending offering, with a particular focus on reducing administrative requirements for intermediaries and borrowers.

Pankaj Thukral (pictured), chief lending officer and deputy CEO at GB Bank, said: “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.

“We want improvements to our proposition to make a difference beyond the lending terms themselves and how a case moves from application to completion is central to the service we provide.”