Gatehouse Bank is extending its green home finance products to expats and international residents, expanding access to its Shariah-compliant products.
The bank’s green offerings are the first of their kind in the UK and have been designed to incentivize customers to acquire or refinance properties with an Energy Performance Certificate (EPC) rating of A or B. Customers who meet these criteria will be eligible for a 0.10% reduction on the standard rental rate.
In addition, Gatehouse Bank will offset the carbon emissions generated by the average UK property for the initial 2 or 5-year fixed term, and for as long as the customer remains with the Bank with a qualifying property.
The bank has also raised the maximum finance amount on its green home finance products from £500,000 to £5m, making every product in its portfolio available with a green option.
John Mace, senior product manager at Gatehouse Bank, said the bank’s green home finance offering is unique in the sector and has been designed to enhance the bank’s competitiveness while providing support for customers looking to reduce their impact on the environment.
Mace also added that this announcement is in line with Gatehouse Bank’s environmental commitments as a founding signatory of the UN Principles for Responsible Banking, where the bank has pledged to align its business with the UN’s Sustainable Development Goals and Paris Climate Agreement.
