The reduction applies to both standard and green products, including cases involving Houses in Multiple Occupation and Multi Unit Freehold Blocks. The bank accepts applications from individual borrowers as well as UK registered SPV limited companies.
Gatehouse Bank operates on a Shariah compliant basis and charges rental rates rather than interest, reflecting the share of the property owned by the customer. Following the reprice, rental rates on buy to let purchase plans now start at 5.88% for UK expats and 5.89% for international residents.
Gatehouse Bank also offers green home finance products that provide a reduced rental rate where the property has an energy efficiency rating of A or B. For these products, the bank offsets the carbon emissions generated by the average UK property during the initial fixed term.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said:
“We know that the UK property market remains highly attractive to those based overseas and we remain committed to helping existing and prospective landlords to access the finance they need, whether they are based in the UK or abroad.
“Today’s rate reduction ensures we are continuing to offer competitive rates within the market, therefore helping even more customers achieve their property investment goals and further encouraging inward investment in the UK.”
