"We are delighted to make our buy-to-let products even more accessible to customers by cutting rates across our entire range."
The reductions apply to all the Bank's buy-to-let products, including MUFBs and its recently relaunched finance options for HMOs, as well as all types of buyer, including UK residents, UK expats and international residents, whether buying as individuals or through corporate entities.
For UK residents buying as individuals, rates for the bank’s two-year fixed term product have been reduced by 0.25%, with the new rates standing at 3.49% for 65% Finance to Value (FTV), and 3.69% for 80% FTV. FTV is the Shariah-compliant equivalent of LTV.
Rates for five-year fixed rate buy-to-let products have also decreased, dropping by 0.35% to 3.85% at 65% FTV, and by 0.34% to 4.05% at 80% FTV.
Rates for UK corporations are now the same as for individuals, with reductions of 0.51% made for two-year fixed rates and 0.60% for five-year products.
The most significant reductions apply to UK expats, either buying as an individual or corporation, where the new two-year fixed rate is 3.69%, a fall of 0.61% at 65% FTV.
International residents and corporations also benefit from a 0.50% reduction on buy-to-let products, including HMOs and MUFBs. The best rate for a two-year fix is 4.19% up to 65% FTV, rising to 4.39% for a five-year fixed rate.
Paul Stockwell, chief commercial officer at Gatehouse Bank, said: “We are delighted to make our buy-to-let products even more accessible to customers by cutting rates across our entire range.
“We have taken significant steps to improve our eligibility criteria in recent years, and we remain committed to our manual underwriting process, aiding customers who sometimes struggle to access finance.
“Our commitment to treating every customer on an individual basis has proved particularly beneficial to UK expats, and we’re also very pleased to offer reduced rates on HMO and MUFB products.”
