Gatehouse Bank has cut rates on its buy-to-let (BTL) product range for UK residents and UK expats by up to 0.45%.
The reductions apply to those buying as individuals or through corporate entities and include houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFBs).
The reduction is available to UK residents and corporate entities taking BTL finance fixed for 5-years up to 65% finance-to-value (FTV).
This results in a 3.99% rate for finance amounts below £500,00 and 3.79% for amounts above £500,000.
BTL finance now starts at 3.39% for a 2-year fixed up to 65% FTV for UK landlords, while a 2-year fix for UK expats starts at 3.49%.
Rate reductions of up to 0.31% have also been applied to Gatehouse’s home purchase plan (HPP) products, which are available to UK residents, UK expats and international residents.
The 0.31% reduction for HPP is available to international residents taking finance fixed for 2-years with an FTV up to 75%.
This results in a 4.09% rate for finance amounts below £500,000 and 3.89% for amounts above £500,000.
Rates for international residents now start from 3.79%.
As well as this, HPP finance starts at 3.19% for a 2-year fixed at 65% FTV available to UK residents — a reduction of 0.25%.
John Mace, product manager at Gatehouse Bank, said: “We are delighted to introduce this latest round of rate reductions across the majority of our buy-to-let and home purchase plan products.
“Islamic home finance remains a growing force in the UK and these changes will enhance our competitiveness at a time when life is slowly returning to normal.”