Gatehouse Bank reduces rates on all 2 year fixed term BTL Purchase Plans for UK Expats and…
Gatehouse Bank has today announced a rental rate* reduction of 0.24% across its full range of two-year fixed term Buy-to-Let (BTL) Purchase Plans, available to UK Expats and International Residents.
Today’s changes apply on all standard and green two-year products, including those for customers seeking finance for Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs). Gatehouse Bank accepts applications from individuals as well as UK-registered SPV** Limited Companies.
The Bank’s range of green Buy-to-Let Purchase Plan products offer a reduced rental rate for customers acquiring or refinancing a property with an energy efficiency rating of A or B. Additionally, Gatehouse Bank will offset the carbon emissions generated by the average UK property for the product’s initial fixed term.
Following today’s updates, rental rates on Buy-to-Let Purchase Plans start at 4.49% for UK Expats and 4.58% for International Residents. A full list of Gatehouse Bank’s Buy-to-Let Purchase Plans is available here.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, commented: “We are always looking for ways to support our customers based overseas to achieve their property ownership and investment goals and today’s rate reduction has been designed with this in mind.
“We remain committed to providing our customers with great value and support when financing property with us and are thrilled to be offering highly competitive rates within the UK BTL market.
*As a Shariah-compliant bank, Gatehouse charges rental rates rather than interest rates, which reflect the share the customer owns of the property.
**A Special Purpose Vehicle (SPV) is a company structure set up for a given purpose, with its own assets and liabilities and its own legal status. Within property investment they are formed for purchasing and holding residential buy to lets or for property development.