Gatehouse Bank reduces rental rates on two-year fixed term buy-to-let products for overseas residents
Gatehouse Bank has today reduced rental rates* by 0.31% on all two-year fixed term buy-to-let (BTL) Purchase Plans available for UK expats and international residents.
The new rates apply across standard and green two-year products, including for those 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.
Following today’s changes, the Bank’s rental rates on two-year BTL products start from 4.21% for UK expats and from 4.22% for international residents.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said: “Helping customers achieve their property ownership goals is something we take seriously at Gatehouse Bank and today’s changes will help even more customers residing overseas to access the finance they need.
“We know that the UK market remains highly attractive to those looking to purchase buy-to-let properties and we are committed to providing products which are competitive while also serving the needs of customers from across the globe.”
*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.