Gatehouse Bank reduces rental rates on Buy-to-Let Purchase Plans for UK Residents
Gatehouse Bank has today announced a series of rental rate* reductions of up to 0.20% across its range of two-year and five-year fixed term Buy-to-Let (BTL) Purchase Plans for UK Residents.
Today’s changes apply on all standard and green two-year and five-year products for new and existing customers, including those for customers seeking finance for Houses in Multiple Occupation (HMO) and Multi-Unit Freehold Blocks (MUFB). Gatehouse Bank accepts applications from individuals as well as UK-registered SPV** Limited Companies.
Starting Rental Rates on Gatehouse Bank’s BTL products for UK Residents
| FTV*** Limit | Two-Year Fixed Term | Five-Year Fixed Term |
|---|---|---|
|
80% BTL |
5.64% |
5.90% |
|
75% BTL HMO/MUFB |
5.79% |
6.04% |
A full list of Gatehouse Bank’s Buy-to-Let Purchase Plans is available here.
Gemma Donnelly, Head of Customer Propositions at Gatehouse Bank, said: “We remain committed to supporting homebuyers and landlords to achieve their property ownership goals within the UK Buy-to-Let market.
“We are confident that today’s changes will help more people to access the home finance products they need and ensure we continue to provide a competitive offering within the 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.
***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.