Gatehouse Bank introduces BTL changes for UK expats and international residents
Gatehouse Bank has announced a series of changes to its range of buy-to-let (BTL) Purchase Plans.
This includes the launch of a new 5% fee option on two-year and five-year fixed term BTL products for UK expats and international residents, which is available to individual applicants as well as UK-registered SPV Limited companies. This option allows 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%
Gatehouse Bank has also significantly reduced the minimum finance amount on its 3% fee option across all BTL 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.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said: “Our latest product enhancements have been designed to help more customers residing overseas seek Shariah-compliant finance to purchase property in the UK.
“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.”