The home purchase plan (HPP) refinance deals are available for UK residents and don’t have any product or application fees.
The new products offer up to 80% finance to value (FTV) on both new-build and existing properties, with a maximum FTV of 75% on new-build flats.
The maximum amount offered by the bank is £5m and customers can also get one free standard valuation when they apply.
Instead of interest rates, the Sharia-compliant bank charges rental rates, which start at 5.63% for a five-year fixed term and 5.68% for a fixed term of two years.
Gemma Donnelly (pictured), head of customer propositions at Gatehouse Bank, said: “We are seeing growing demand for refinancing products that give customers greater choice and flexibility as they come to the end of their current fixed rate deals.
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“Regardless of whether a customer owns their home outright, currently finances it through a Sharia-compliant provider, or has a conventional mortgage, we are committed to helping people across the UK access competitive, straightforward and cost-effective property finance that meets their needs.”
Last month, the firm added non-family members to its gifted deposit criteria.
