Gatehouse Bank has cut rates across its range of buy-to-let products by up to 0.46%.
The shariah-compliant lender has announced that the reductions apply to the bank’s two-year and five-year fixed rate products that are available immediately to UK residents, UK expats, international residents, and corporate entities.
Gatehouse’s buy-to-let products are available up to 80% finance-to-value (FTV) with no early repayment charges, and can cater for single units or for portfolios up to £5m, including HMOs and multi-unit freehold blocks.
A two-year fixed rate for UK expats has been reduced by 0.4% to 3.89% and a five-year product has been cut by 0.34% to 4.45%. Both are available up to 75% FTV.
Meanwhile, reductions for international residents mean a two-year fix is now available at 4.14%, down from 0.40%, while a five-year is 4.69%, down by 0.35%.
Paul Stockwell, chief commercial officer of Gatehouse Bank, said: “We have seen strong appetite for our buy-to-let products and delighted to now further reduce rates across our range.
“We take a human approach to our applications process, meaning a computer does not have the final say on whether we approve someone for a buy-to-let product or not.
“This has proved to be particularly attractive to the UK expat community who are very much underserved by the wider market and can take advantage of our flexibility to secure the finance they deserve.”