The sharia-compliant bank is targeting businesses and investors looking to acquire or refinance commercial property investments and mixed-use or owner-occupied commercial premises.
It will offer finance of between £500,000 and £2m to UK residents and companies as well as expat and international clients.
Gatehouse Bank is focusing on flexible underwriting and personal relationship managers who will provide a single point of contact from application through to completion.
Clients will be able to finance up to 70% of the value of commercial properties, including offices, industrial units, purpose-built student accommodation and retail property with part residential.
There will also be no early settlement charges if clients exit at agreed break points.
- Enness arranges £17m commercial facility
- Gatehouse Bank appoints ex-Shawbrook director
- The diversity of commercial securities
Product details for UK residents and companies:
The new products are available directly from the bank or via brokers, and clients can choose between ‘amortising’ or ‘profit-only’, the sharia-compliant equivalents of conventional repayment and interest only.
The entry into commercial property finance follows the arrival of Lindsey Griffiths as commercial finance manager.
Paul Stockwell, chief commercial officer at Gatehouse Bank (pictured above), said it was trying to position itself as a leader in every sphere.
“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.”