Gatehouse Bank has made several changes to its buy-to-let (BTL) purchase plans, focusing on UK expats and international residents.
The new offerings include a 5% fee option on 2-year and 5-year fixed term BTL products for individual applicants and UK-registered Special Purpose Vehicle (SPV) Limited companies.
This option enables customers to pay an upfront fee in return for a lower rental rate.
The minimum finance amount is set at £75,000, with rates starting from 5.05%.
Additionally, Gatehouse Bank has lowered the minimum finance amount for its 3% fee option across all BTL products.
This option is available to UK residents as well as UK expats and international residents, with the new minimum set at £75,000, reduced from £500,000.
Gemma Donnelly, head of customer propositions at Gatehouse Bank, said: “Our latest product enhancements have been designed to help more customers residing overseas seek Shariah-compliant finance to purchase property in the UK.
“The UK housing market remains an attractive option for customers globally and we hope that today’s product changes will provide more flexibility and ensure we are offering competitive financial solutions within the market.”
