Gatehouse Bank launches new buy-to-let and House Purchase Plan products
Gatehouse Bank has launched a new tier of buy-to-let (BTL) and Home Purchase Plan (HPP) products.
The new tier, for finance of £500,000 and over, will have rates 0.20% lower than the equivalent products for smaller amounts.
Rates have also been reduced across all of Gatehouse’s existing HPP and BTL products for UK residents, UK expats and international residents.
For BTL, this applies whether buying as an individual or through a corporate entity.
John Mace, product manager for home finance at Gatehouse Bank, said: “We are always trying to find ways to expand and improve our range, and the changes we have made ensures our offering is even more accessible and competitive.”
“UK expats, who often find it difficult to access finance, will particularly benefit from our lower rental rates, in addition to our manual underwriting process, which means that we treat every customer on an individual basis.”
Gatehouse now has two tiers of BTL and HPP products. The first is for finance amounts between £150,000 and £499,999, with rates starting from 3.64% for a 2-year HPP deal at 65% (finance-to-value (FTV) and 3.64% for UK landlords.
Meanwhile, rates start at 3.44% for a 2-year fixed HPP product with 65% FTV in its new £500,000 to £2.5m range. BTL products over the same term also start at 3.44% with a maximum finance amount of £5m.
Its 5-year fixed BTL products at 80% FTV for UK expats and international residents have fallen by 0.25% to 4.34% and by 0.35% to 4.74%, respectively.