Gatehouse Bank reduces standard variable rate across all home finance products

Gatehouse Bank has today announced a 0.25% reduction to the Standard Variable Rate (SVR) on its Home Purchase Plans (HPP)* and Buy-to-Let (BTL) Purchase Plans available to UK residents, UK expats and international residents.

Following today’s changes, the updated SVR for both HPP and BTL customers will be 7.25%.

Gemma Donnelly, Head of Customer Propositions at Gatehouse Bank, said: “We are pleased to have introduced this change to our SVR in line with market conditions, which aims to ease some of the affordability pressures on customers looking to buy a property in the UK.

“Ultimately, our primary goal remains unchanged, which is to help people access the right home finance products to suit their needs, whether they are based in the UK or overseas.”

As part of today’s changes, the Bank has updated its five-year fixed term BTL products. A full list of its Buy-to-Let Purchase Plans is available here while a full list of its Home Purchase Plans is available here.

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