Gatehouse Bank has reduced rates on products within its buy-to-let range.
Gatehouse Bank has reduced rates on products within its buy-to-let range.
For UK residents buying as individuals, rates for the bank’s 2-year fixed term BTL product have been reduced by 0.25%, with rates now starting from 3.49% for 65% Finance to Value (FTV).
Meanwhile, for 80% FTV deals, rates now start from 3.69%.
In addition, rates for the 5-year fixed term BTL products have also decreased, dropping by 0.35% to 3.85% for a 65% FTV, and by 0.34% to 4.05% for 80% FTV.
Rates for UK corporations are now the same as for individuals, with reductions of 0.51% made for 2-year fixed rates, and 0.60% for the 5-year fixed products.
According to the bank, the most significant reductions apply to UK expats, either buying as an individual or corporation, where the new BTL rental rate for a 2-year fixed term is 3.69%, a fall of 0.61% at 65% FTV.
Meanwhile, international residents and corporations also benefit from a 0.50% reduction on the lender’s BTL products, including HMOs and MUFBs.
As a result, rates for a 2-year fixed BTL are now 4.19% up to 65% FTV, and rise to 4.39% for a 5-year fixed rate.
Paul Stockwell, chief commercial officer at Gatehouse Bank, said: “We are delighted to make our buy-to-let products even more accessible to customers by cutting rates across our entire range.
“We have taken significant steps to improve our eligibility criteria in recent years, and we remain committed to our manual underwriting process, aiding customers who sometimes struggle to access finance.
“Our commitment to treating every customer on an individual basis has proved particularly beneficial to UK expats, and we’re also very pleased to offer reduced rates on HMO and MUFB products.”
