Gatehouse Bank has reduced rental rates across selected Home Purchase Plans (HPPs) and buy-to-let (BTL) products for new and existing customers who are UK residents.
These reductions will cover selected standard and green 2-year and 5-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 2-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 BTL products, rental rates will be reduced by 0.10% on 2-year fixed term products and 0.20% on 5-year fixed term products up to a maximum FTV 80%.
In addition, Gatehouse Bank is updating its stress rates across 2-year fixed term HPP and BTL products to boost affordability for customers.
Gemma Donnelly, 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.”
