Complex Buy To Let
Gatehouse Bank resumes HMO lending
Gatehouse Bank has relaunched its finance products for houses in multiple occupation (HMO) purchases from today.
The challenger bank provides Shariah-compliant products for those who want to purchase or re-finance HMOs, with finance to value up to 75 per cent for both UK national, expat and international landlords.
It withdrew the range at the end of March last year in response to the Covid-19 pandemic and restrictions on the property market.
Paul Stockwell, chief commercial officer at Gatehouse Bank, said: “Gatehouse is proud to relaunch our HMO finance today following a short absence from the market.
“The initial downturn in the property market following April’s lockdown sent warning signals which we felt may affect this market considerably.”
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“Fortunately the sector has proven to be more resilient than at first thought, the outlook is positive and we have seen significant demand from customers and brokers, so we have taken the decision to relaunch our suite of HMO products,” he added.