A different way to buy your home
From your first enquiry to your moving date, our home purchase plans provide an Islamic mortgage alternative, yet work in a similar way to a conventional mortgage to enable you to buy your home.
Why finance your home with us?
We provide a range of property finance solutions for UK residents, UK Expats and International residents looking to purchase or refinance residential property across England and Wales.
A home purchase plan offers you a Shariah-compliant alternative to a mainstream mortgage, with competitive rates and an ethical approach. Commonly known as an 'Islamic Mortgage', you can use it just like a conventional mortgage to buy or refinance your home.
With a home purchase plan you buy the property jointly with us – your deposit is your stake, and we fund the rest. Once all your payments are made, you acquire the property and the deed of the property transfers to you. You are free to sell the property any time and any profit made on the sale is retained by you.
Our Home Purchase Plans
- Available for customers who are employed, self-employed, contractors or temporary workers (terms apply)
- Available to UK residents, UK Expats and International residents for those seeking home purchase or refinance.
- Finance available for Houses and Flats (including new build)
- Finance available up to £5m as follows:
- 80% of the property value or purchase price (whichever is the lower) up to £2m
- 75% of the property value or purchase price (whichever is the lower) up to £3m
- 70% of the property value or purchase price (whichever is the lower) up to £5m
- If you require finance above £5m up to £10m, please contact a member of our team to discuss before proceeding
- Available over a maximum 40-year term
- Green Finance Products are available to both new and existing customers which carry a discounted rate of 0.10% off the standard product rate (terms apply, see eligibility below)
- We provide ‘Acquisition and Rent’ finance which is the Shariah-compliant alternative to a conventional repayment (capital & interest) mortgage
- Gifted deposits are allowed from immediate family members including parents (including parents in law), spouse, children (who have their own independent source of income), grandparent, brother, sister, uncle/aunt, foster/adoptive parents or legal guardian and includes step-relatives
- Up to 4.5 times income will be considered, subject to affordability
- Please note, leasehold properties may be subject to the Building Safety Act 2022. You may wish to discuss with your solicitor for further information.
Am I eligible?
You can apply for home finance if you meet these criteria:
- Buying or refinancing property in England or Wales
- Seeking finance of at least £75,000 and up to £5m. If you require finance above £5m up to £10m, please contact a member of our team to discuss before proceeding
- Minimum age 18 years (UK residents) / Minimum age 21 years (UK Expats / International residents). Maximum age at end of finance term 75 years or retirement age if earlier
- Earning at least £15,000 or £20,000 for finance above 80% of the property value (UK residents) / £25,000 (UK Expats / International residents)
- Green Finance Products are available to customers where properties have an EPC rating of A or B. More information can be found here
- All applicants must be able to read, speak and understand English to a level that they are fully aware of all obligations and requirements when entering any financing arrangement with the Bank
- We will consider finance applications from applicants residing in over 150 different countries. For more details see our Home Finance Applications – Countries Checklist
Here to help
To help answer all your questions, we have a comprehensive FAQ section. We also have some handy calculators you might find useful, along with details of all our products. To help our customers we have a Homebuyer Guide which gives you an insight into each of the key steps when buying your home, and also a handy one-page Homebuyer Checklist which provides a summary of the key stages at a glance. More information about the key differences between Shariah-compliant and conventional property finance can be found here.
Next steps
We have a team of experienced and qualified advisers on hand to help you every step of the way. The process usually takes 2-4 weeks from the initial application to an Offer of finance being issued, as long as you send us the documents we need promptly, and we get an acceptable property valuation. Then it’s usually another 12-16 weeks from receiving a signed Offer of finance to legal completion as long as all the right documents are submitted to the solicitors and satisfactory legal reports are received.
Find out how much finance we could provide in around 10 minutes by completing an online Decision in Principle. We will provide you a personalised indication without impacting your credit score.
Not yet ready for a Decision in Principle? Fill in our enquiry form here or give us a call.
Our Calculators are here to help
What our customers are saying about us
“It is not easy to do a property transaction as a British expat 6,000 miles away from the UK. When challenges happen you need a team that is committed to their work and in finding "win-win" solutions and to take the lessons learned into the future. The only way to get to the finish line is to have patience, to communicate and to provide the information required..then things will happen with Gatehouse and that has been my experience ...thank you, gracias.”
– Pancho N, Johannesburg
Apply for Home Finance and Contact Us“I am really happy with the adviser's support and professionalism in completing my application. The whole process was a very thorough and a long-winded one, but we eventually got there. Thanks to the adviser's help and his 'easy to approach' mannerism.”
– Shah S, Manchester
Apply for Home Finance and Contact Us“Good service and reasonable rates for Islamic financial products.”
– Mohamad A, Sutton Coldfield
Apply for Home Finance and Contact Us“Our adviser was very professional, always calm and extremely helpful in our mortgage application process. I was overseas when the application was made, making the application more complicated and difficult. Without our adviser's continued support I may have chosen to take a different route to getting a mortgage. Well done and thanks again.”
– Joseph P, South Korea
Apply for Home Finance and Contact Us“As a first time buyer, I had several questions. I sent in my enquiry and within a space of few hours, I received a callback. I spoke to an adviser who listened to my questions and explained the full process thoroughly. His customer service skills and knowledge was exceptional. Having spoken with him, I am eager to use Gatehouse Bank for my Shariah finance. I am happy I spoke to someone as now I have a better understanding of the process. Thank you!”
– Sofia J, Maidenhead
Apply for Home Finance and Contact Us“My family and I cannot thank you enough. The service you provided us with was first-rate and we want offer our sincerest gratitude for all the hard work you have done. The speedy email responses that you provided was vital in allowing the solicitors to conduct their works, and you responded to each one professionally was so reassuring. Where I am constantly finding that companies are providing poor customer service, you were the complete opposite.”
– Andrew S, Dubai
Apply for Home Finance and Contact UsA balanced approach to banking
From financing your home to looking after your savings, we're proud to take a balanced, Shariah-compliant approach. But what does that mean?
YOUR HOME MAY BE AT RISK IF YOU DO NOT KEEP UP THE PAYMENTS ON YOUR HOME PURCHASE PLAN.