The new products are available to individual applicants as well as UK-registered SPV limited companies and allow customers to make an advanced payment in exchange for a lower rental rate. The minimum finance amount for these products is £75,000 and rates start from 5.05%.
The lender has also announced that it has significantly reduced the minimum finance amount on its 3% fee option across all buy-to-let products, available for UK residents as well as UK expats and international residents. The new minimum finance amount is £75,000, down from £500,000 previously.
“Our latest product enhancements have been designed to help more customers residing overseas seek Shariah-compliant finance to purchase property in the UK," explained Gemma Donnelly, head of customer propositions at Gatehouse Bank.
She added, “The UK housing market remains an attractive option for customers globally and we hope that today’s product changes will provide more flexibility and ensure we are offering competitive financial solutions within the market.”
