Gatehouse Bank ups maximum FTV on HPPs

The maximum finance available at 80% finance-to-value (FTV) across both the bank’s HPP and BTL ranges has doubled from £1m to £2m.

Gatehouse Bank ups maximum FTV on HPPs

Gatehouse Bank has increased the maximum finance amount on its Home Purchase Plans (HPPs) to £5m, bringing them in line with its buy-to-let (BTL) range.

 

The maximum finance available at 80% finance-to-value (FTV) across both the bank’s HPP and BTL ranges has doubled from £1m to £2m.

The maximum finance available at 75% FTV for HPP has increased from £2.5m to £3m.

Gatehouse has also introduced a new BTL FTV tier of 75% FTV for UK residents, UK expats and international buyers with maximum finance to match its HPP counterparts to £3m.

Existing products for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFBs) at 75% FTV have been increased to £3m, up from £1m previously.

For finance above £3m, both of Gatehouse Bank's HPPs and its BTL products will now have a maximum of 70% FTV.

John Mace, product manager at Gatehouse Bank, said: “Increasing the maximum finance amounts available on our HPP and BTL products further improves our home finance range.

"The changes align our HPP and BTL products making it easier for brokers and customers alike.

“Islamic home finance continues to grow in the UK and these changes will enhance our competitiveness at a time when life is slowly returning to normal.”

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