Gatehouse extends green offering to UK expats and international residents – Mortgage Strategy

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Gatehouse Bank has extended its green products offering to UK expats and international residents.

This will apply to home purchase plans and buy-to-let, including houses in multiple occupation (HMO) and multi-unit freehold blocks.

The lender says its green home finance products are the first Shariah-compliant products of their kind in the UK.

Under this scheme, customers acquiring or refinancing a property with an energy performance certificate (EPC) rating of A or B will qualify for a 0.10% reduction on the standard rental rate.

Gatehouse Bank will also offset the carbon emissions generated by the average UK property for the initial two- or five-year fixed term, and for as long as the customer remains with the lender with a qualifying property.

In addition, the bank has increased the maximum finance amount on its green home finance products from £500,000 to £5m.

Every product in the bank’s portfolio now comes with a green option.

In addition, existing customers who qualify and are coming towards the end of their fixed term period will automatically be offered green product options.

Gatehouse Bank senior product manager John Mace comments: “Our Shariah-compliant green home finance offering is unique within the sector and has been designed to enhance our competitiveness while providing support for customers looking to reduce their impact on the environment.”

“This announcement is also a step forward in upholding Gatehouse Bank’s own environmental commitments as a founding signatory of the UN Principles for Responsible Banking in which we have committed to strategically aligning our business to the UN’s Sustainable Development Goals and Paris Climate Agreement.”

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