Gatehouse Bank has today announced rate reductions of up to 0.27% across its range of buy-to-let purchase plans available for UK expats and international residents.
As a Shariah-compliant bank, Gatehouse charges rental rates rather than interest rates, which reflect the share the customer owns of the property
Today’s changes have been applied on standard and green two-year and five-year fixed term products, with two-year fixed term products seeing a rental rate reduction of 0.26% and five-year fixed term products reducing by 0.27%.
The reduced rental rates are also available for customers seeking finance for HMOs and multi-unit freehold blocks (MUFBs). Gatehouse Bank accepts applications from individuals as well as UK-registered SPV limited companies.
As a result of the latest reductions, two-year fixed rates now start from 4.23% for expats and 4.32% for international residents, with five-year fixes lowered to 5.95% and 5.96% respectively.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, commented: “Today’s changes have been implemented to support even more people residing overseas to achieve their investment goals and ensure our purchase plans remain competitive within the home finance market.”
