The Right DA Club has announced that it has joined the panel for Gatehouse Bank.
The move will allow hundreds of additional UK brokers to access the Shariah-compliant ethical bank’s buy-to-let (BTL) and home purchase plan products and criteria.
Differing from conventional mortgages, Gatehouse’s Shariah-compliant products involve a partnership where the customer and bank purchase the property together, and the customer pays rent on the proportion of the home they don’t yet own.
Gatehouse’s home finance products are open to UK residents, expats, and international residents, with finance provided for up to 80% of the property value. The firm's BTL plans for landlords are available to individuals or UK corporate entities, and these include houses in multiple occupation as well as multi-unit freehold blocks.
Head of intermediary sales at Gatehouse Bank, Lottie Clayton, commented: “We are delighted to have partnered with The Right DA Club, which has enabled us to reach hundreds of its broker members and provide access to Gatehouse Bank’s competitive products.
“We are looking forward to our continued collaboration as we aim to both educate and raise further awareness of our BTL and home purchase plans.”
The Right DA Club is the directly authorised proposition of The Right Mortgage Ltd and provides compliance support to directly authorised (DA) mortgage and protection advisory firms.
CEO of The Right DA Club, Martin Wilson, added: “We look forward to continuing our relationship with Gatehouse Bank and are excited to be able to provide our DA firms with access to the bank’s range of competitive home purchase and BTL plans.”
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