The funding has been obtained by a European bank and will see Gable Group deploy up to £250m to first-time buyers over the next 12 months.
The products will include mortgages up to and including 100% LTV products to support prospective homeowners who struggle to raise a deposit. The mortgages will be available through intermediaries and selected housebuilders, targeting creditworthy first-time buyers in England and Wales.
The products will be backed by Gable Group’s insurance subsidiary, Gable Sure, which will support the firm in developing products that do not require a cash deposit, guarantor or other form of security.
Joshua Weinstein, founder and co-CEO of Gable Group, said: “Millions of UK renters are not locked out of homeownership because they cannot afford a mortgage. They are locked out by unaffordable deposit requirements.
“No- and low-deposit mortgages have an essential role to play in today’s modern, well-regulated market, whilst also supporting the government’s new-build home target. Securing the long-term backing of a major European bank is a strong endorsement of the platform and products we have built and the growth prospects for this part of the funding stack.”
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Chris Eaton, co-CEO of Gable Group, added: “Our platform allows our partners to deliver a rigorous, technology-led underwriting process with long-term institutional funding, within a Financial Conduct Authority-regulated framework, to enable hard-working, aspirational professionals across the UK to achieve their homeownership dreams.”
Gable Group was established in 2024. Its CEOs have extensive experience in financial services, with Weinstein having previously worked at private bank Investec for six years, originating transactions and two years at ASK Partners, where he set up and led the institutional markets team.
Eaton has more than 20 years of experience in banking and financial services, including a decade at Barclays in roles spanning senior treasury and risk, followed by five years as deputy CEO at long-term mortgage lender Perenna.
