Gatehouse Bank introduces limited edition rental rates on BTL finance above £500k
Gatehouse Bank has introduced a limited edition set of rental rates for its buy-to-let (BTL) product range above £500,000.
The offer brings rates down by 0.50%, to as low as 2.89% on BTL purchases for UK residents, 2.99% for UK expats, and to 3.39% for international residents.
The reduction applies to purchases made both by individuals and corporate entities, and includes Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs).
The rate on a BTL purchase with finance over £500,000 for a UK resident at 65% FTV has decreased to 2.89%, down from 3.39% for a two-year fix, and decreased to 3.25%, down from 3.75%, for a five-year fix.
A two-year fix for UK Expats at 65% FTV has fallen from 3.49% to 2.99%, while the same product for international residents has fallen from 3.89% to 3.39%.
Limited edition BTL rates for UK residents, UK expats and international residents
|Product||Customer||Current rental rates||Limited Edition rental rates|
|2 year – 65% FTV||UK resident||3.39%||2.89%|
|2 year – 80% FTV||UK resident||3.59%||3.09%|
|5 year – 65% FTV||UK resident||3.75%||3.25%|
|5 year – 80% FTV||UK resident||3.79%||3.29%|
Other rental rates apply for HMO and MUFB products.
The Bank is also fixing the product fee for these products at £5,000 for all customers and property types regardless of finance amount (£500,000 to £5m).
These rental rates and fixed fees are part of a limited tranche of funds and could be withdrawn at any time without notice.
John Mace, product manager at Gatehouse Bank, said: “We’re delighted to offer these limited edition rental rate reduction products for landlords in a period of rising rates. The property market remains incredibly busy and so we hope many buy-to-let investors needing finance over £500,000 will be able to act quickly to make the most of these attractive rates and lower fees while they last.”