Gatehouse Bank has introduced a limited edition range of refinance products for UK residents switching their home finance to the bank.
The bank has launched new Home Purchase Plan and buy-to-let Refinance Fee Saver options, available on two-year or five-year fixed terms for customers refinancing from another provider.
The products are available for finance amounts from £200,000 up to a maximum 60% finance-to-value.
On the Home Purchase Plan side, rental rates on the two-year Refinance Fee Saver start from 5.34%, rising to 5.54% for the five-year option.
For buy-to-let customers, the equivalent two-year product starts from 5.69%, with the five-year option priced from 5.89%.
Gatehouse Bank will accept applications from individual borrowers as well as UK-registered special purpose vehicle limited companies. Refinancing is available on both new-build and existing properties.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said: “We know how important it is for homeowners and landlords to be able to access the home finance products that best suit their needs while offering a competitive rate within the market.
“We are pleased to now be offering a wider range of refinancing options so that customers feel confident that they are choosing the right option for them when they switch.”
Gatehouse Bank offers Home Purchase Plans as a Shariah-compliant alternative to conventional mortgages, with rental rates applied rather than interest. Finance-to-value is used in place of loan-to-value to describe the proportion of finance relative to the property’s valuation.
