Gatehouse Bank introduces limited edition rental rates on Buy-to-Let finance above £500k
Gatehouse Bank has introduced a limited edition set of rental rates for its Buy-to-Let (BTL) product range above £500,000.
The offer brings rates down by 0.50%, to as low as 2.89% on BTL purchases for UK residents, 2.99% for UK expats, and to 3.39% for international residents.
The reduction applies to purchases made both by individuals and corporate entities, and includes Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs).
The rate on a BTL purchase with finance over £500,000 for a UK resident at 65% FTV has decreased to 2.89%, down from 3.39% for a two-year fix, and decreased to 3.25%, down from 3.75%, for a five-year fix.
A two-year fix for UK Expats at 65% FTV has fallen from 3.49% to 2.99%, while the same product for international residents has fallen from 3.89% to 3.39%.
Limited edition BTL rates for UK residents, UK expats and international residents
Product |
Customer |
Current rental rates |
Limited Edition rental rates |
2 year - 65% FTV |
UK resident |
3.39% |
2.89% |
UK expat |
3.49% |
2.99% |
|
International resident |
3.89% |
3.39% |
|
2 year - 80% FTV |
UK residentBuy-to-Let |
3.59% |
3.09% |
UK expat |
3.75% |
3.25% |
|
International resident |
4.09% |
3.59% |
|
5 year - 65% FTV |
UK resident |
3.75% |
3.25% |
UK expat |
3.75% |
3.25% |
|
International resident |
4.09% |
3.59% |
|
5 year - 80% FTV |
UK resident |
3.79% |
3.29% |
UK expat |
3.99% |
3.49% |
|
International resident |
4.29% |
3.79% |
Other rental rates apply for HMO and MUFB products.
The Bank is also fixing the product fee for these products at £5,000 for all customers and property types regardless of finance amount (£500,000 to £5 million).
These rental rates and fixed fees are part of a limited tranche of funds and could be withdrawn at any time without notice.
Click here for the full Gatehouse Bank BTL product tables, including HMO and MUFB rates, and here for the HPP product tables.
John Mace, Product Manager at Gatehouse Bank, said:
“We’re delighted to offer these limited edition rental rate reduction products for landlords in a period of rising rates. The property market remains incredibly busy and so we hope many Buy-to-Let investors needing finance over £500,000 will be able to act quickly to make the most of these attractive rates and lower fees while they last.”