Gatehouse Bank reduces rental rates on selected two-year fixed term Buy-to-Let Purchase Plans for UK expats and international residents

Gatehouse Bank reduces rental rates on selected two-year fixed term Buy-to-Let Purchase Plans for UK expats and international residents

Gatehouse Bank has today announced it has reduced rental rates* across selected two-year fixed term Buy-to-Let (BTL) products for UK expats and international residents.

Today’s changes apply on two-year fixed term products at 80% finance-to-value (FTV)** and on 75% FTV products for customers seeking finance for Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs). Gatehouse Bank accepts applications from individuals as well as UK-registered SPV*** Limited Companies.

UK expats and international residents acquiring a home or investment property in England or Wales are now able to apply for a UK payment account with Algbra as part of the home finance process with Gatehouse Bank. The offering, which is available to customers applying via the Bank’s qualified Direct Adviser team or through an intermediary, aims to support customers residing overseas who are required to hold a UK payment account to access property finance.

Following today’s reprice, rental rates on two-year BTL products start at 4.15% for UK expats and 4.16% for international residents.

Gemma Donnelly, Head of Customer Propositions at Gatehouse Bank, commented: “We know how important it is for landlords to find the home finance product that best suits their needs and at the best price.

“Today’s changes reflect our commitment to remaining competitive within the market while upholding a high level of service to those looking to invest in the highly popular UK property market.”

A full list of Gatehouse Bank’s Buy-to-Let Purchase Plans is available here

*As a Shariah-compliant bank, Gatehouse charges rental rates rather than interest rates, which reflect the share the customers owns of the property.

**The percentage of the property’s value that the Bank is financing. This would be known as the Loan to Value, or LTV, on a conventional mortgage.

***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.