Shawbrook and Gatehouse Bank revise BTL ranges

Shawbrook Bank and Gatehouse Bank have added new products to their BTL ranges.

Shawbrook Bank

Shawbrook Bank has introduced a new mid-range product to its BTL offering, predominately aimed at supporting portfolio landlords owning simple property types.

Customers who meet the criteria will benefit from a reduced five-year fixed rate of 4.09% at up to 75% LTV.

This completes the bank’s full revamp of its BTL offering, following the launch of its new digital portal, MyShawbrook BTL.

Gavin Seaholme, head of sales at Shawbrook Bank, said: “We’ve gradually been enhancing our BTL proposition to support the needs of the entire market— first with technology that improves the application experience for all, and now with products that are carefully designed to suit the requirements of different borrower types. 

“At Shawbrook, we pride ourselves on striking the perfect balance of people and technology and now our products reflect that, offering the perfect blend of automation and specialist underwriting skills for each case, depending on its complexity.”

Gatehouse Bank

Gatehouse Bank has expanded its BTL product range for international investors to include MUFBs again.

The eight new products are offered to international residents at 65% and 75% FTV, fixed for two or five years — four of which are available for finance up to £500,000, while the remaining four offer loans over £500,000.

Rates start at 4.69% for a two-year fix at 65% FTV for facilities under £500,000, dropping to 4.49% for finance over £500,000. 

Meanwhile, the five-year fixed-rate options at 65% FTV are priced at 4.99% for loans below £500,000, and 4.79% for facilities above £500,000.

Gatehouse’s BTL products can cater for single units or portfolios up to £5m, with no limit on the number of properties for portfolio landlords.

The reinstatement follows a review of the bank’s home finance range.

John Mace, product manager at Gatehouse Bank, said: “The return of MUFBs across our international BTL range is a big boost for overseas investors, as this mode of investing has become increasingly popular in recent years and as international travel returns. 

“These products remain very competitive and their reintroduction is a huge vote of confidence in the economic outlook for the UK.”

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