International residents will need to provide bank statements covering six months. Conditions apply. An ill wind By Business Money group editor Robert Lefroy Lack of cyber securi... var sib_prefix = 'sib'; var sib_dateformat = 'mm-dd-yyyy'; Business Money connects companies with finance. REQUEST ACCESS Vote in our polls, get your opinion across on the news and watch out for our weekly editorial round-up features. Specialist Lending Newsletter You’ll need to have at least 20% of the amount you borrow (an 80% finance-to-value ratio), and repay over a term of up to 35 years. GATEHOUSE returns to pre-COVID criteria, lending again on new build and HMO/MUFB. Paul Stockwell, Chief Commercial Officer at Gatehouse Bank, comments on October’s ONS UK House Price Index data. 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All the latest news, analysis and insight from the mainstream residential lending market. Charles Haresnape, chief executive of Gatehouse Bank (pictured), 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. 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. The maximum age increase and reduction of statements also apply to Houses in Multiple Occupations (HMOs) and Multi Unit Freehold Blocks (MUFBs). Suitably qualified replacements may be sent if you are unable to attend; however, the organisers must approve them before the event takes place. Gatehouse Bank makes criteria changes to buy-to-let products. About Gatehouse Bank. Including industry news, adviser business strategy tips and market commentary. The Bank reserves the right to decline any … Business home. Older clients, who would otherwise have no problem passing affordability tests, will now find it easier to get a loan, Gatehouse said. The only UK Shariah-compliant bank to be one of the founding signatories of the United Nations Principles for Responsible Banking is Gatehouse Bank, and joins 130 banks from around the world. The maximum finance-to-value for expats and international residents has been increased to 80 per cent from 75 per cent, while the minimum finance amount is reduced to £60,000. Covid 19, Coronavirus latest criteria and mortgage polices from lenders and banks The minimum finance amount has also been reduced to £60,000, down from £75,000, and the minimum property value reduced from £100,000 to £75,000 for Expats and International Residents. Gatehouse Bank PLC is a UK regulated bank, based in Mayfair, London. If you are subsequently unable to attend, please make sure your notice of cancellation is sent at least three weeks prior to the date of the event. About Gatehouse Bank We’ve been around since 2007, with teams based in London, Milton Keynes and Wilmslow. Calculators, product and criteria information, key contacts and more, all at your fingertips. Intermediary log in Help. Commercial Deposits . Gatehouse Bank is a pioneering UK Bank offering Shariah-compliant ethical savings, home finance, buy-to-let finance, commercial property finance and more. ... Why Gatehouse? The bank has also widened its eligibility criteria for both BTL and home purchase plan (HPP) customers. “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. The 99-year age limit will not apply to customers who rely on non-rental income to meet affordability criteria. The signature of the delegate/visitor or his/her duly authorised agent on the registration form shall signify the delegate/visitor's acceptance of the above conditions and the same shall bind both parties to this contract. You may also be interested in the Mortgage Solutions newsletter. Find out the full detailed product criteria for all our Buy-to-Let and Home Purchase Plan products. If you would like to know more about our privacy policy, please follow this link https://www.mortgagesolutions.co.uk/privacy-policy/. Gatehouse launches new mortgage alternative. Gatehouse Bank has promoted Lottie Clayton to the role of head of intermediary sales, just months after she joined in December as business development manager (BDM) for the north region. Remember me Forgot your password?. The Bank has also made some changes to its home purchase plan criteria, and refinancing is now allowed within six months of purchase, subject to further due diligence checks. Gatehouse Bank cuts lending limits. “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.”. By signing up, the bank has committed to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change. Home Finance . 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. Personal home. Where there is a reliance on personal income, the maximum age remains 85. Under the new offer from Gatehouse Bank, homebuyers can now apply for a five-year fixed-rate deal, with an initial rate of 2.99% (reverting to an SVR of 4.5%). You are already registered for our newsletter. Please enter your email address and we will email you a link where you can change your password. Business development director – leveraged finance, Portfolio manager, asset based lending – Midlands and North, Education, training and personnel services. 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. Personal. 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. You have successfully registered for Premium access, please check your email for your temporary password. 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. The 99-year age limit will not apply to customers who rely on non-rental income to meet affordability criteria… In addition to facilitating investment in the fast-growing single home private rented sector (PRS) in the UK, Gatehouse Bank real estate advisory team specialises in sourcing, structuring, advising on and delivering high quality real estate investment opportunities from the UK. You will be given an identification badge, which must be shown upon request. Gatehouse Bank Named UK’S Best Islamic Bank Gatehouse Bank Bucks Market Trend With Savings Rate Increase Gatehouse Bank PLC agrees sale of property portfolio to Goldman Sachs for circa £150M The Bank last changed its eligibility criteria in October 2019. Welcome to Gatehouse for intermediaries, how can we help? If you don't receive the emails, please contact marketing@ae3media.co.uk or call 0203 815 3683. Its manual underwriting process, ensures all applications are judged on a case-by-case basis, taking the applicant’s full circumstances into account. Whilst I understand the need to carefully check and verify a potential customer, Gatehouse Bank … Gatehouse Bank has appointed John Coles as an asset manager in its real estate investment advisory team. Gatehouse Bank has rolled out changes to its buy-to-let mortgage range to widen its eligibility 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 . 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. 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. Buy-to-Let . Clayton (pictured) has almost 20 years of experience in financial services, having joined Gatehouse from Chorley Building Society where she was a b usiness d evelopment m anager. Exceptional service by Gatehouse Bank I am extremely happy with the service Gatehouse Bank provided. As a first time buyer, I had several questions which I needed answers for. (Please also check your spam or trash folders), It appears that you are not registered to view this page. AE3 Media Limited is authorised and regulated by the Financial Conduct Authority, Thank you. He has joined from Hearthstone Investments, where he was an in vestment m anager for two year, and was responsible for a fund aimed at developing a portfolio of privately rented properties in the UK. The following additional criteria applies for loans above 85% LTV: ... Credit facilities are provided by The Co‑operative Bank p.l.c. Additional criteria apply for loans above 85% LTV. The assessment of earned income and existing lending to Portfolio Landlords will be stressed at 5.5%. Register to gain access to MortgageSolutions.co.uk for the latest news analysis, interactive comment, industry video and features, all at your finger tips. Commercial Real Estate Finance . Savings . By using this form you agree with the storage and handling of your data by this website. The Shariah-compliant lender has raised its maximum age at the end of term from 85 to 99 years for UK residents. and are subject to status and our lending policy. è I'Ente Certificatore leader del settore, riconosciuto dall' Office of Qualifications and Examinations Regulation, England (Qfqual) e altri organismi di certificazione in tutto il mondo, comprese Malta, Italia e Grecia. PRS/Build to Rent . Delegate places are free of charge, subject to approval by the organisers based on job criteria; Registered delegates have access to the seminars where applicable. 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. Where there is a reliance on personal income, the maximum age remains 85. Gatehouse Bank criteria amendments Gatehouse are moving our criteria back to a similar position to where we were prior to lockdown including the facility to undertake physical valuations. please sign-in using your email and password. Gatehouse will also now allow refinancing within six months of purchase for all buy-to-let customers, subject to an enhanced due diligence process. They are trusting you with their business and clients. You will receive confirmation of your cancellation. We use cookies to ensure that we give you the best experience on our website. Business. Gatehouse Bank has added its its home finance criteria to the Knowledge Bank platform. Opinions; 8.12.2020 Paul Stockwell, Chief Commercial Officer at Gatehouse Bank, comments on the Bank of England's Mortgage Lending Statistics for Q3, 2020. Since 1993 it has worked with 360+ UK banks and finance houses and 400 more worldwide. For new lending, the rental cover required for the property is 140% of the mortgage interest amount calculated at a stress rate of 5.5% on products other than 5 year fixed rates - for 5 year fixed rates the stress rate is 4.5%. 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. Refinancing within six months of purchase for all buy-to-let customers will now be allowed, subject to an enhanced due diligence process. Business Money Promotions Ltd, Unit 14, Bowdens Business Centre, Hambridge, Somerset, TA10 0BP, United Kingdom, Business Money Promotions Ltd © 2020 All rights reserved |. At Gatehouse Bank we specialise in providing competitive buy-to-let and home purchase finance for UK residents/entities, UK Expats and International residents looking to acquire or refinance property based in England and Wales. Gatehouse Bank has rolled out changes to its buy-to-let mortgage range to widen its eligibility criteria. It is valuable in understanding the banks, the criteria and products, systems and process, to ensure the broker has trust in my abilities. 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. Business Money’s proven marketing platform, specialist reports and accomplished consultants are industry leaders. Would love your thoughts, please comment. SIGN IN to access the broker portal. Commercial Property Finance . This week Specialist Lending Solutions is talking to Charlie Stack, business development manager for The Mortgage Lender. UK law shall apply to any claim against AE3 Media and all proceedings shall be within the exclusive domain of the UK Courts. Home purchase plans are Shariah-compliant alternatives to conventional mortgages which carry no early payment charges. I sent in my enquiry and within a space of few hours, I received a callback. Opinions; 24.11.2020 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) Download our criteria and product rates here. 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. Registered delegates have access to the seminars where applicable. © AE3 Media Ltd, Floor 7, Lincoln House, 296 - 302 High Holborn, London WC1V 7JH, Company registration number 8938488. And the minimum property value has been lowered from £100,000 to £75,000 for expats and international residents. Gatehouse Bank provides commercial and residential real estate finance products. Should for any reason the venue or speakers change, or the event be cancelled due to an act of terrorism, extreme weather, disease control, industrial action, act of God or any eventuality beyond the control of AE3 Media, we shall endeavour to reschedule; but the client hereby indemnifies AE3 Media and holds AE3 Media harmless from and against any and all costs, damages and expenses, including legal fees, incurred by the client. All cancellations must be received in writing. We’re the fastest growing bank of our kind in the UK, and are a subsidiary of Gatehouse Financial Group Limited. The Shariah-compliant lender has raised its maximum age at … 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. Gatehouse has also suspended loans against houses in multiple occupation, multi-unit blocks, new-builds and apartment buildings over six storeys. 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. AE3 Media will not be liable for damage, loss, injury, accident, annoyance, delay or irregularity, which occurs by reason of any act or default committed by any person or company. If you continue to use this site we will assume that you are happy with it. Gatehouse Bank plc is a Shariah-compliant challenger bank based in London and is part of the Gatehouse Financial G View All 30+ HMO Mortgage Lenders AE3 Media reserves the right to change the programme, speakers, dates or venue at any time, without notice. And existing lending to Portfolio Landlords will be given an identification badge, which must shown... 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