Gatehouse Bank reduces residential and buy-to-let rates by up to 0.66%

Gatehouse Bank has introduced limited edition two and five-year home purchase plan (HPP) and buy-to-let products, available to new customers residing in the UK. 

The Bank has also reduced rates on selected two-year buy-to-let products for UK expats and international residents.

The new rental rates apply to all finance-to-value (FTV) bands and are available on standard and green home finance products. 

The Bank’s range of green home finance products offer a reduced rental rate for customers buying or refinancing a home with an energy efficiency rating of A or B. Additionally, Gatehouse Bank will offset the carbon emissions generated by the average UK property for the products initial fixed term.

For UK residents who are new customers, starting rates have been reduced by up to 0.66% for home purchase plans, a Shariah-compliant alternative to a mortgage, and up to 0.51% for buy-to-let. 

Home purchase plan rates start from 5.58% fixed for two years and 5.53% fixed for five years, with buy-to-let rates from 3.63% and 4.79% respectively.

For UK expats and international residents, starting rates have also reduced by up to 0.14% on selected two-year fixed term buy-to-let products.

Gemma Donnelly, head of customer propositions at Gatehouse Bank, commented: “We are continuously assessing our pricing to ensure that our customers receive the best rate possible when they choose us as their home finance provider and today’s rate reductions reflect this.

“We hope that our new pricing will help even more homebuyers and prospective landlords to take their next step on the property ladder.”