This applies to its offering at 80% finance to value (FTV) and up to 75% LTV for customers in need of finance for houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).
Gatehouse Bank will accept applications from individual borrowers and UK-registered special purpose vehicle (SPV) limited companies.
Now, rental rates on two-year BTL products start from 4.15% for UK expats and 4.16% for international residents.
UK expats and international residents buying a home or investment property in England or Wales can also apply for a UK payment account with Algbra as part of the home finance process. This is available directly with the bank’s direct adviser team or intermediaries and gives overseas customers a UK payment account to access finance.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said: “We know how important it is for landlords to find the home finance product that best suits their needs and at the best price.
Episode 5: Larger Loans and Complex Lending: Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
“Today’s changes reflect our commitment to remaining competitive within the market while upholding a high level of service to those looking to invest in the highly popular UK property market.”
