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Gatehouse Bank raises FTV limits

by Kevin Rose
28 May 2020
Gatehouse Bank hires head of home finance operations
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Gatehouse Bank has introduced 75% Finance to Value (FTV) limits on its buy-to-let and Home Purchase Plan products.

This follows the bank’s decision to reduce its maximum FTV to 65% on 1 April, due to difficulties in gaining physical valuations during the lockdown.

However, a change in the lockdown conditions in England means that physical valuations can recommence, and finance can once again be offered for new builds, Houses in Multiple Occupation (HMO), Multi-Unit Freehold Blocks (MUFBs) and apartment buildings with more than six storeys in this part of the UK. The maximum FTV for HMOs and MUFBs is 70%.

The changes also mean that any applications submitted before the lockdown in March for finance between 65% and 75% FTV will proceed, and new applications can be made up to the 75% FTV limit.

Roger Evans, director of home finance distribution at Gatehouse Bank, said: “We are pleased to be able to offer 75% FTV products at competitive rates for UK, expat and international customers. The return of physical valuations also means that we are now able to welcome new applications up to 75% FTV for new builds and apartment buildings above six storeys and 70% FTV for HMOs and MUFBs. We have seen considerable demand from these specialist markets since launching our initial Home Finance proposition in 2018.

“Customers who applied for finance between 65% and 75% FTV, who have not had a valuation carried out, will see their applications proceed in earnest.”

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© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
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  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMOs
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
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  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
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  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
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    • Life cover
    • PMI

© 2018 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Butterick Building Unit K, 38 New Lane, Havant, P09 2ND

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