Gatehouse Bank’s rate changes are available to UK residents, UK expats and international residents, and the changes apply to new customers and existing customers. The HPPs are available to clients who are employed, self-employed and contractors.
The firm has reinstated the maximum finance to value (FTV) limit of 90 per cent for HPP deals and a maximum finance limit of £500,000. The rates are available for new build houses and flats up to the full FTV and open to those moving home, refinancing and first-time buyers.
It has also reintroduced a two-year fixed rate term for HPP products for UK expats and international residents, including green equivalents which offer a reduced rental rate if a customer has a higher EPC rating and offsets carbon emissions.
John Mace, senior product manager at Gatehouse Bank, said: “We are delighted to introduce these rental rate reductions across our HPP products and reintroduce higher FTV products, which will support customers who are looking for Shariah-compliant, ethical home finance products.
“We’re committed to providing our customers with competitive products within our specialised market and helping them to achieve their aspirations, whether they are buying, refinancing or looking to become first-time homeowners.”
He continued: “As Shariah-compliant alternatives continue to gain popularity in the UK, these changes will enhance our competitiveness and make our products available to a wide range of people, regardless of their faith.”
The firm has been growing its team with Thomas Humphreys adding to its telephony business development manager (BDM) and Tyler Sullivan taking on the role of BDM.
The lender has also been added to the lender panels of The Right DA Club and the Envelop Network.
The company was launched in 2007, with teams based in London, Milton Keynes and Wilmslow. It offers savings, home finance and buy-to-let for both personal and buy-to-let customers.
