Gatehouse Bank has lowered rental rates across selected Home Purchase Plans (HPP) and buy-to-let products for new and existing customers who are UK residents.

These reductions will cover selected standard and green two-year and five-year fixed term products for individual applicants as well as UK-registered SPV Limited Companies.

For UK residents seeking HPP products, rental rates will be reduced by 0.25% on two-year and five-year fixed term products up to a maximum Finance to Value (FTV) of 80%.

For UK residents and UK-registered SPV Limited Companies seeking buy-to-let products, rental rates will be reduced by 0.10% on two-year fixed term products and 0.20% on five-year fixed term products up to a maximum FTV 80%.

In addition, Gatehouse Bank is updating its stress rates across two-year fixed term HPP and buy-to-let products to boost affordability for customers.

Gemma Donnelly (pictured), head of customer propositions at Gatehouse Bank, said: “We are constantly reviewing our home finance products to ensure they best suit the needs of our customers and are competitive within the market.

“Today’s changes will benefit both new and existing UK customers, ultimately helping more people to achieve their homeownership goals.”