The firm’s rental rate has been cut by up to 0.25% across its full range of BTL purchase plans available for UK residents.
The rental rates on two- and five-year fixed rates start from 5.39% and 5.64% respectively.
The changes apply on standard and green two- and five-year fixed rate deals, as well as customers looking for houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).
Gatehouse Bank has removed its minimum income requirement for those self-financing, and where the applicant is already an owner-occupier, less documentation will be needed.
The firm has also eased its requirements for applications using gifted deposits, and intercompany loans are now acceptable as a valid deposit source.
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This will improve accessibility and reduce barriers for a wide range of customers.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said: “We are constantly reviewing our home finance products to ensure they are best meeting the needs of our customers and brokers and that they remain in line with the rest of the market.
“Today’s changes make the process simpler and more efficient whilst ensuring our products remain competitive and support those looking to purchase investment properties with us.”
Last month, the firm lowered rental rates on its BTL purchase plans for UK residents.
Keystone Property Finance cuts expat rates
Keystone Property Finance has lowered selected expat fixed rates by up to 0.4%, with standard two-year fixed rates starting from 4.14% at 65% LTV.
The firm has also added a 75% LTV deal to its range, offering expats 4.29%, available alongside a 5.5% arrangement fee.
Elise Coole, managing director of Keystone Property Finance, said: “With the demand for expat products and tailored mortgages increasing at the moment, we’re pleased to be able to offer products that align with this growing need.
“It’s important for us to be as relevant, flexible, and competitive as we can in providing brokers with specialist buy-to-let products that meet both their needs and those of their clients.”
