Gatehouse Bank has made several new enhancements to its green home finance offering.
Having previously only available to UK residents, the bank’s green products have been extended to UK expats and international residents.
They will now apply to home purchase plans (HPP) and buy-to-let (BTL), including houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB).
Gatehouse’s 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 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 bank with a qualifying property.
At the same time, the bank has increased the maximum finance amount on its green home finance products from £500,000 to £5m. This now means that every product in Gatehouse’s portfolio comes with a green option.
“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,” commented senior product manager at Gatehouse, John Mace.
“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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