Gatehouse Bank reprices selected Home Purchase Plan and Buy-to-Let Products

Gatehouse Bank has today introduced limited edition two- and five-year Home Purchase Plan* (HPP) and Buy-to-Let (BTL) products, available to new customers residing in the UK. The Bank has also reduced rates on selected two-year BTL products for UK expats and international residents.

The new rental rates** apply to all Finance-to-Value*** (FTV) bands and are available on standard and green home finance products.

The Bank’s range of green home finance products offer a reduced rental rate for customers buying or refinancing a home with an energy efficiency rating of A or B. Additionally, Gatehouse Bank will offset the carbon emissions generated by the average UK property for the products initial fixed term.

For UK residents who are new customers, the starting rates have been reduced by up to 0.66% for Home Purchase Plans and up to 0.51% for BTL.

Product Type	Two-Year Fixed Term	Five-Year Fixed Term
HPP	5.58%	5.53%
BTL	3.63%	4.79%

For UK expats and international residents, starting rates have reduced by up to 0.14% on selected two-year fixed term BTL products.

Gemma Donnelly, Head of Customer Propositions at Gatehouse Bank, commented: “We are continuously assessing our pricing to ensure that our customers receive the best rate possible when they choose us as their home finance provider and today’s rate reductions reflect this.

“We hope that our new pricing will help even more homebuyers and prospective landlords to take their next step on the property ladder.”

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.

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

***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.