Gatehouse Bank has reduced rental rates on its two-year fixed term buy-to-let purchase plans for UK expats and international residents, extending further competition into a part of the market that has seen renewed activity this autumn.
The bank has cut rates by 0.31% across its range, including standard and green products, as well as options for Houses in Multiple Occupation and multi-unit freehold blocks. Applications are accepted from individuals and UK-registered special-purpose vehicle limited companies.
Following the changes, rental rates now start at 4.21% for UK expats and 4.22% for international residents. As a Shariah-compliant lender, Gatehouse charges rental rates rather than interest, reflecting the customer’s share of the property.
Gemma Donnelly (pictured), head of customer propositions at Gatehouse Bank, said: “Helping customers achieve their property ownership goals is something we take seriously at Gatehouse Bank and today’s changes will help even more customers residing overseas to access the finance they need.”
She added: “We know that the UK market remains highly attractive to those looking to purchase buy-to-let properties and we are committed to providing products which are competitive while also serving the needs of customers from across the globe.”
A full list of the bank’s buy-to-let products is available from Gatehouse.
