Gatehouse Bank has made product changes, including a 0.50% reduction to the standard variable rate on its Home Purchase Plans (HPP) and Buy-to-Let (BTL) Purchase Plans.

The Shariah-compliant plans are available for UK Residents, UK Expats and International Residents seeking residential property finance for properties in England and Wales.

The Bank has also reduced rental rates by 0.10% on both standard and green two-year fixed term BTL products for overseas residents. Gatehouse Bank’s green home finance products offer a reduced rental rate for customers acquiring or refinancing a property with an energy efficiency rating of A or B. 

The bank has also broadened its eligibility criteria and will now consider applications from International Residents seeking Buy-to-Let finance for HMOs.

A spokesperson says: “Our primary goal is to help more people seeking Shariah-compliant finance achieve their aspirations. 

“Following wider market trends, we are thrilled to be introducing today’s product changes, which have been designed to make our products more accessible for our customers, both in the UK and overseas.”