"We are pleased to be able to offer 75% FTV products at competitive rates for UK, expat and international customers. "
Finance to value (FTV) is the Shariah-compliant equivalent of loan to value (LTV) for conventional mortgages.
The Bank reduced its maximum FTV to 65% in April, due to difficulties in gaining physical valuations during the lockdown.
The return of physical valuations means that Gatehouse can also accept new applications up to 75% FTV for new builds and apartment buildings above six storeys and 70% FTV for HMOs and MUFBs.
The changes also mean that any applications submitted before the lockdown in March for finance between 65% and 75% FTV will proceed, and new applications can be made up to the 75% FTV limit.
Additionally, the Bank has increased its maximum property values to £5m on buy-to-let and £2.5m on home purchase plans in England.
Roger Evans, director of home finance distribution at Gatehouse Bank, said: “We are pleased to be able to offer 75% FTV products at competitive rates for UK, expat and international customers. The return of physical valuations also means that we are now able to welcome new applications up to 75% FTV for new builds and apartment buildings above six storeys and 70% FTV for HMOs and MUFBs. We have seen considerable demand from these specialist markets since launching our initial home finance proposition in 2018.
“Customers who applied for finance between 65% and 75% FTV, who have not had a valuation carried out, will see their applications proceed in earnest.”
