Gatehouse Bank reduces rental rates across range of Buy-to-Let Purchase Plans for UK Expats and International Residents
Gatehouse Bank has today announced various rental rate* reductions of up to 0.27% across its range of Buy-to-Let (BTL) Purchase Plans available for UK Expats and International Residents.
Today’s changes have been applied on standard and green two-year and five-year fixed term products, with two-year fixed term products seeing a rental rate reduction of 0.26% and five-year fixed term products reducing by 0.27%.
The reduced rental rates are also available for customers seeking finance for Houses in Multiple Occupation (HMOs) and Mutli-Unit Freehold Blocks (MUFBs). Gatehouse Bank accepts applications from individuals as well as UK-registered SPV** Limited Companies.
Updated Starting Rental Rates on Buy-to-Let Purchase Plans
| Applicant | Two-Year Fixed Term BTL Products | Five-Year Fixed Term BTL Products |
|---|---|---|
| UK Expat | 4.23% | 5.95% |
| International Residents | 4.32% | 5.96% |
A full list of Gatehouse Bank’s Buy-to-Let Purchase Plans is available here.
Gemma Donnelly, Head of Customer Propositions at Gatehouse Bank, commented: “Today’s changes have been implemented to support even more people residing overseas to achieve their investment goals and ensure our Purchase Plans remain competitive within the home finance market.”
*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.