Gatehouse Bank has announced that it has reduced rental rates by 0.10% on selected buy-to-let mortgage products. The cuts apply to two and five-year fixed-term buy-to-let products at 65% finance-to-value (FTV), covering standard and green options for individual applicants as well as UK-registered SPV limited companies.
The reduced rates also extend to landlords seeking buy-to-let finance for houses in multiple occupation (HMOs) or multi-unit freehold blocks (MUFBs). Following the reprice, the two-year fixed rate at 65% FTV now starts from 3.74%, while the five-year fixed rate at the same FTV starts from 5.20%. For HMOs and MUFBs at 65% FTV, the two-year rate begins at 3.89% and the five-year rate at 5.34%.
The same 0.10% reduction has also been applied to Gatehouse's home purchase plans (HPP), with two and five-year fixed terms now available at 65% and 80% FTV. The two-year rate at 65% FTV starts from 5.99%, rising to 6.09% at 80% FTV, while the five-year equivalents start from 5.95% and 6.05% respectively.
"We know how important it is for prospective homebuyers and landlords to receive a competitive rate on a product that suits their individual needs," said Gemma Donnelly, head of customer propositions at Gatehouse Bank.
"We hope that today's rate reduction will help even more people within the UK to access the financing they require as they look to achieve their property ownership goals."
