Gatehouse Bank reduces rental rates on its 2-year fixed term buy-to-let Purchase Plans for overseas residents
Gatehouse Bank has today announced a rental rate* reduction of 0.12% on its two-year fixed term buy-to-let (BTL) Purchase Plans for UK Expats and International Residents.
Changes apply on 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.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, commented: “We remain committed to helping our customers achieve their goals and have introduced today’s changes with this in mind, aiming to support even more people seeking Shariah-compliant finance to purchase property in England or Wales.”
*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.