The Shariah-compliant lender has raised its maximum age at the end of term from 85 to 99 years for UK residents. Savings . “We are able to make the latest changes to our criteria because of our human approach to underwriting, which means we take our customers’ full financial circumstances into account.”. You have successfully registered for Premium access, please check your email for your temporary password. Including industry news, adviser business strategy tips and market commentary. Gatehouse Bank has rolled out changes to its buy-to-let mortgage range to widen its eligibility criteria. please sign-in using your email and password. You will be given an identification badge, which must be shown upon request. Gatehouse Bank has brought its lending up to 75 per cent finance to value (FTV) on its buy-to-let and home purchase plan products. Wherever you live, you can apply for Buy-to-Let finance if you meet these criteria: Buying property in England or Wales; Seeking finance of at least £75,000; Minimum age 21 years; Earning at least £18,000, or £20,000 for portfolios & £25,000 for MUFBs (UK residents) / £25,000 (Expat/International residents) This follows the b ank’s decision to reduce its maximum FTV to 65 per cent on 1 April, due to difficulties around physical valuations during the lockdown. SIGN IN to access the broker portal. Gatehouse Bank has lowered its finance-to-value (FTV) limit to 65% on buy-to-let and home purchase plans to help cope with existing market conditions. Specialist Lending Newsletter (Please also check your spam or trash folders), It appears that you are not registered to view this page. Personal home. The Bank will now require three months of bank statements from expats, rather than 12 months, while international residents will only need to provide six months’ worth of statements, rather than 12 months – conditions apply. Older clients, who would otherwise have no problem passing affordability tests, will now find it easier to get a loan, Gatehouse said. By signing up, the bank has committed to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change. If you don't receive the emails, please contact marketing@ae3media.co.uk or call 0203 815 3683. Gatehouse has also suspended loans against houses in multiple occupation, multi-unit blocks, new-builds and apartment buildings over six storeys. Opinions; 24.11.2020 Gatehouse Bank has widened the eligibility criteria on its range of buy-to-let products, including an increase to the maximum age at the end of the term, from 85 to 99 years for UK residents. Register to gain access to MortgageSolutions.co.uk for the latest news analysis, interactive comment, industry video and features, all at your finger tips. The change to the upper age limit is designed to remove financing challenges for older clients, who would otherwise have no problem passing affordability tests. It took three months and many, many invasive, personal and irrelevant questions only to be told in the end that I don’t fit their lending criteria. A full and complete list of all known HMO Mortgage, Finance and Bridging Lenders who are active and lending the HMO mortgage market in 2019 . Would love your thoughts, please comment. Once you have registered and your application has been accepted, then you are expected to attend. This field is for validation purposes and should be left unchanged. Charles Haresnape, CEO of Gatehouse Bank, said: “We are always looking at ways to improve our buy-to-let and home purchase plan ranges to ensure we make the application process as easy as possible for our brokers and customers. All cancellations must be received in writing. The 99-year age limit will not apply to customers who rely on non-rental income to meet affordability criteria. and are subject to status and our lending policy. Download our criteria and product rates here. I sent in my enquiry and within a space of few hours, I received a callback. Exceptional service by Gatehouse Bank I am extremely happy with the service Gatehouse Bank provided. Gatehouse Bank has widened the eligibility criteria on its buy-to-let range by increasing the maximum age at the end of the term from 85 to 99 years for UK residents. Commercial Real Estate Finance . We use cookies to ensure that we give you the best experience on our website. Buy-to-let products for expats and international residents have also been amended, with the maximum finance-to-value increasing from 75% to 80%, to bring it in line with products for UK residents. UK law shall apply to any claim against AE3 Media and all proceedings shall be within the exclusive domain of the UK Courts. The following additional criteria applies for loans above 85% LTV: ... Credit facilities are provided by The Co‑operative Bank p.l.c. Paul Stockwell, Chief Commercial Officer at Gatehouse Bank, comments on the Bank of England's Mortgage Lending Statistics for Q3, 2020 “Pent-up demand has continued to push new mortgage commitments to the highest levels since the financial crisis but it wouldn’t have been a surprise to see them register even higher than this. All the latest news, analysis and insight from the mainstream residential lending market. About Gatehouse Bank. Vote in our polls, get your opinion across on the news and watch out for our weekly editorial round-up features. AE3 Media reserves the right to change the programme, speakers, dates or venue at any time, without notice. Gatehouse has revamped its manual underwriting processes to improve access for contractors on a case-by-case basis by taking their full employment income into account too., as well as improved its criteria for expat and international contractors. Gatehouse launches new mortgage alternative. GATEHOUSE returns to pre-COVID criteria, lending again on new build and HMO/MUFB. “We are able to make the latest changes to our criteria because of our human approach to underwriting, which means we take our customers’ full financial circumstances into account.”, There is much more to Specialist Lending Solutions…, For just two minutes of your time, you can register for premium access. Since 1993 it has worked with 360+ UK banks and finance houses and 400 more worldwide. 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