Gatehouse Bank has made a series of changes to its buy-to-let products, including launching a new deal for expats.
The expat deal offers a 5% fee option on two- and five-year fixed term buy-to-let deals for UK expats and international residents. It is open to individual applicants and UK registered SPV Limited companies.
The option allows the Shariah-compliant bank’s customers to make an advanced payment in exchange for a lower rental rate. The minimum finance amount for these products is £75,000 and rates start from 5.05%
Gatehouse has also changed the minimum finance amount on its 3% fee option across all BTL products, available for UK Residents as well as UK Expats and International Residents. The new minimum finance amount is £75,000, down from £500,000 previously.
Gatehouse Bank head of customer propositions Gemma Donnelly says: “Our latest product enhancements have been designed to help more customers residing overseas seek Shariah-compliant finance to purchase property in the UK.
“The UK housing market remains an attractive option for customers globally and we hope that today’s product changes will provide more flexibility and ensure we are offering competitive financial solutions within the market.”
