Gatehouse Bank introduces limited edition Refinance Fee Saver Purchase Plans for UK Residents

Gatehouse Bank has today introduced new limited edition Home Purchase Plan (HPP)* and Buy-to-Let (BTL) Refinance Fee Saver products for UK residents who are refinancing from another provider to Gatehouse Bank. These are available for a two-year or five-year fixed term with a minimum finance amount of £200,000 up to a maximum 60% Finance-to-Value (FTV)**.

Rental rates*** on the Bank’s HPP two- and five-year Refinance Fee Saver products start from 5.34% and 5.54%, respectively, while the Bank’s two- and five-year BTL Refinance Fee Saver products start from 5.69% and 5.89% respectively.

Gatehouse Bank accepts applications from individuals as well as UK registered SPV**** Limited Companies, with refinancing available for new build and existing properties.

Gemma Donnelly, Head of Customer Propositions at Gatehouse Bank, commented: “We know how important it is for homeowners and landlords to be able to access the home finance products that best suit their needs while offering a competitive rate within the market.

“We are pleased to now be offering a wider range of refinancing options so that customers feel confident that they are choosing the right option for them when they switch.”

A full list of Gatehouse Bank’s Home Purchase Plans is available here, while a list of its Buy-to-Let products is available here.

*A Home Purchase Plan is a Shariah-compliant alternative to a mortgage.

**Finance to Value (FTV) is the amount of finance expressed as a percentage of the property valuation, which may be referred to as Loan-to-Value (LTV) in conventional finance.

***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.