Gatehouse Bank reinstates refinance facilities for Home Purchase Plans and returns to offering home finance to residents of China and Hong Kong

Gatehouse Bank has today reinstated refinance facilities for Home Purchase Plan (HPP)* products available to UK residents and UK expats.

This allows for refinance applications on all products with a finance-to-value (FTV)** of up to 90% and also applies to the Bank’s green home finance products. Gatehouse offers a reduced rental rate*** for customers acquiring or refinancing a property with an EPC rating of A or B and also offsets the carbon emissions generated by the average UK property for the initial fixed term..

As part of these product updates, Gatehouse Bank has also returned to offering its home finance products to residents of China and Hong Kong.

John Mace, Senior Product Manager at Gatehouse Bank, commented: “We’re pleased to be reinstating refinancing on our range of Home Purchase Plans for UK residents and UK expats, which will allow us to help more people achieve their financial goals.

“Gatehouse Bank is one of the few UK providers offering home finance for applicants based in China and Hong Kong, which is a significant step in broadening our customer base.”

A full list of Gatehouse Bank’s Home Purchase Plans is available here, while a list of its Buy-to-Let products is available here.

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

**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

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