Gatehouse Bank launches into commercial property finance

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  • 13/11/2018
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Gatehouse Bank launches into commercial property finance
Gatehouse Bank has launched a range of commercial property finance products to expand its real estate finance activities.

 

The bank is targeting businesses and investors looking to acquire or refinance commercial property investments and mixed use or owner-occupied commercial premises.

Finance of between £500,000 and £2m is available to UK residents and companies, as well as expat and international clients.

Gatehouse Bank will assess each transaction on its own merits and there are no early settlement charges if clients exit at agreed break points.

Clients will be able to finance up to 70% of the value of commercial properties including offices, industrial units, purpose-built student accommodation and retail property with part residential.

The new products are available directly from the bank or via brokers, and clients can choose between ‘amortising’ or ‘profit-only’, the Shariah-compliant equivalents of conventional repayment and interest-only.

When choosing ‘profit-only’, instead of paying the capital element alongside the amount the bank earns for providing the finance, the client makes a balloon payment at the end of the term.

Commercial finance manager joins

The launch of the bank’s new commercial property finance offering follows the appointment of Lindsey Griffiths as commercial finance manager, joining from Aldermore where she worked as commercial lending manager.

Paul Stockwell, chief commercial officer at Gatehouse Bank, said its customers already included investors, asset managers and developers.

He added: “We know many of them often need more than one type of property finance, so it makes complete sense for us to cover all bases like this.

“We have seen growing demand for finance under £2m over the last 12 months and are confident that our competitive terms, bespoke underwriting and personalised relationship management will prove to be significant draws.”

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