Mortgage News
Gatehouse Bank resumes refinance offering
Sharia-compliant lender Gatehouse Bank has resumed its refinance facilities for home purchase plan (HPP) products.
Gatehouse Bank will accept refinance applications on all products up to 90% finance to value (FTV) and its green finance deals.
Its green finance products offer a reduced rental rate, the lender’s alternative to an interest rate that complies with Sharia values, for borrowers buying or refinancing a property with an EPC rating of A and B.
Gatehouse Bank will also offset carbon emissions generated by the average property in the UK, as long as the borrower remains with the lender and has a qualifying property.
The bank has also resumed offering home finance products to residents of China and Hong Kong.
John Mace, senior product manager at Gatehouse Bank, said: “We’re pleased to be reinstating refinancing on our range of home purchase plans for UK residents and UK expats, which will allow us to help more people achieve their financial goals.
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“Gatehouse Bank is one of the few UK providers offering home finance for applicants based in China and Hong Kong, which is a significant step in broadening our customer base.”
Earlier this year, Roger Evans, Gatehouse Bank’s home finance distribution director, announced he would be retiring from the business in June.