Gatehouse Bank wins global award for Property & Real Estate Finance
Gatehouse Bank has been awarded ‘Best Islamic Bank for Property & Real Estate Finance 2021’ at the Global Islamic Finance Awards (GIFA).
It is the second year in a row that Gatehouse has won the award, despite facing stiff competition in the rapidly expanding sector.
The accolade reflects the bank’s pioneering activity in the Build to Rent (BTR) market, along with its commitment to offering competitive home finance products.
Charles Haresnape, Gatehouse’s CEO said: “This is excellent recognition for all the hard work and innovation the bank’s team has put in over recent years. I’m delighted that their efforts have been recognised, especially at an international awards level.
“During a year of unprecedented disruption, we have continued to carve out a strong reputation for delivery and funding across the property sphere. The bank’s growth, not least in underserved markets, shows no signs of slowing.”
In the past year, Gatehouse sold its first BTR fund, Thistle, to Goldman Sachs Merchant Banking Division and Pitmore for a total consideration of circa £150m. The deal was the largest transaction of its nature in the UK to date.
It has also recently embarked on a £500m joint venture with TPG Real Estate Partners (TREP) to enable construction of up to 2,500 suburban, purpose-built family rental homes across the North of England and Midlands.
The bank offers Home Purchase Plans (HPPs) and Buy-to-Let (BTL) products to UK residents, UK expats and international residents. It has continually improved its range while also opening up the eligibility criteria to people who traditionally find it difficult to access finance, aided by its commitment to human underwriting.
More recently, the bank launched new HPPs with finance-to-value (FTV) up to 90 per cent and 95 per cent — with the latter only available to UK resident first-time buyers.