Gatehouse Bank has reduced rental rates by up to 27 percentage points across its buy-to-let purchase plans for UK expats and international residents.
The reductions apply to both standard and green two-year and five-year fixed term products. Two-year fixed term plans have fallen by 26 basis points (bps), while the five-year equivalents have dropped by 27bps.
The revised pricing structure also covers finance for Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs), with applications accepted from both individual borrowers and UK-registered SPV limited companies.
The new starting rental rates now begin at 4.23% for UK expats on two-year fixed term products and 5.95% on five-year terms. For international residents, the new rates are 4.32% and 5.96% respectively.
Gemma Donnelly (pictured), head of customer propositions at Gatehouse Bank, said: “[The] changes have been implemented to support even more people residing overseas to achieve their investment goals and ensure our Purchase Plans remain competitive within the home finance market.”
The bank’s range of buy-to-let products is designed to meet the needs of overseas investors looking to access the UK property market through ethical, Shariah-compliant finance. As an Islamic bank, Gatehouse does not charge interest, instead offering rental rates that reflect the share of the property owned by the customer.
