Gatehouse Bank has announced the launch of a series of new commercial property finance products aimed at businesses and investors.
The lender is targeting those interested in acquiring or refinancing commercial property and mixed use or owner-occupied commercial premises through loans of between £500,000 and £2m.
The new offerings – commercial investment, semi-commercial, and owner-occupied – are all five-year fixed rate products at either 60 per cent and 70 per cent FTV, ranging from 4.75 per cent to 5.20 per cent with a follow-on profit rate of between SVR plus 0.35 per cent and SVR and 0.50 per cent. Clients will be able to choose between amortising or profit-only options – repayment or interest-only Shariah-compliant equivalents.
All three products are available to UK residents and companies and expat and international clients.
Gatehouse Bank chief commercial officer Paul Stockwell says: “We’ve already built up quite a following in the property space so, with these products, we’re really trying to position ourselves as leaders in every sphere, whether that’s commercial property finance, Build To Rent or BTL.
“Our customers already include investors, asset managers and developers. We know many of them often need more than one type of property finance, so it makes complete sense for us to cover all bases like this.
“We have seen growing demand for finance under £2m over the last 12 months and are confident that our competitive terms, bespoke underwriting and personalised relationship management will prove to be significant draws.”