Gatehouse Bank has launched limited edition home purchase plan (HPP) and buy-to-let refinance fee saver products for UK residents who are refinancing from another provider to Gatehouse.
These are available for a two-year or five-year fixed term with a minimum finance amount of £200,000 up to a maximum 60% finance-to-value (FTV).
A home purchase plan is a Shariah-compliant alternative to a mortgage and, as a Shariah-compliant bank, Gatehouse charges rental rates rather than interest rates, which reflect the share the customer owns of the property.
Rental rates on the Bank’s HPP two and five-year refinance products start from 5.34% and 5.54%, respectively, while the Bank’s two and five-year buy-to-let products start from 5.69% and 5.89%.
Gatehouse Bank accepts applications from individuals as well as UK registered SPV limited companies, with refinancing available for new build and existing properties.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, commented: “We know how important it is for homeowners and landlords to be able to access the home finance products that best suit their needs while offering a competitive rate within the market.
“We are pleased to now be offering a wider range of refinancing options so that customers feel confident that they are choosing the right option for them when they switch.”
