Gatehouse Bank reinstates Multi-Unit Freehold Blocks for international buy-to-let investors
Gatehouse Bank has today expanded its buy-to-let product range for international investors to include Multi-Unit Freehold Blocks (MUFBs) once again.
The reinstatement follows a review of the Bank’s home finance range and means that there are now an additional eight products available through Gatehouse for international investors.
Four of the new products are available to international residents at 65% and 75% Finance to Value (FTV), fixed for 2 or 5 years for finance up to £500,000. A further four products mirroring these criteria cater to finance amounts over £500,000 and attract a rental rate reduction of 0.2%.
Finance ranges from £100,000 to £5m on these products. Rental rates start at 4.69% for a 2 year fixed at 65% FTV for finance amounts under £500,000, dropping to 4.49% for finance over £500,000. Rental rates for a 5 year fixed at 65% FTV start at 4.99% for finance amounts under £500,000, falling to 4.79% for amounts over £500,000.
Gatehouse’s buy-to-let products can cater for single units or portfolios up to £5m, and there is no limit on the number of properties for portfolio landlords.
John Mace, product manager at Gatehouse Bank, said: “The return of MUFBs across our international buy-to-let range is a big boost for overseas investors, as this mode of investing has become increasingly popular in recent years and as international travel returns.
“These products remain very competitive and their reintroduction is a huge vote of confidence in the economic outlook for the UK.”