Gatehouse Bank announces return to the HMO market
Gatehouse Bank is today relaunching its finance products for HMO (Houses in Multiple Occupation) purchases.
The shariah-compliant challenger bank withdrew the range at the end of March 2020 as Covid-19 took hold in the UK and the property market slowed.
Paul Stockwell, the bank’s chief commercial officer, said: “Gatehouse is proud to relaunch our HMO finance today following a short absence from the market.
“The initial downturn in the property market following April’s lockdown sent warning signals which we felt may affect this market considerably. Fortunately the sector has proven to be more resilient than at first thought, the outlook is positive and we have seen significant demand from customers and brokers, so we have taken the decision to relaunch our suite of HMO products.”
Gatehouse Bank provides a range of finance options for those wishing to purchase or re-finance HMOs, with finance to value up to 75% for both UK national, expat and international landlords.