A new Shariah-compliant provider has entered the UK’s bridging finance market, offering non-regulated, short-term residential finance.
Serving customers in England, Scotland and Wales, Gatehouse Capital, a sister company of Gatehouse Bank, can support those seeking finance from £100,000 on standard residential bridging, with large bridging finance available up to £3 million and 75% finance-to-value (FTV).
All products are available for three to 12-month terms, negotiable to 18 months, with product rates starting at 0.79% for residential financing.
The company will be headed up by Edinburgh-based Mark Dyason (pictured), who has over two decades of experience in the home finance industry, including as a specialist broker.
Mark Dyason, managing director of Gatehouse Capital, commented: “Bridging has become an essential part of the UK property finance ecosystem, but it is also a market where brokers can still encounter inconsistency, particularly around pricing and execution.
“We want to bring greater clarity to that process through a simple approach of providing transparent, up-front pricing and by structuring our finance in a way that is both Shariah-compliant and commercially competitive.”
Charles Haresnape, director of Gatehouse Financial Group and Gatehouse Capital, said: “The launch of Gatehouse Capital marks an important step forward for the UK’s Islamic finance industry, ensuring that customers seeking ethical alternatives to conventional finance have even more options to choose from.
“Led by an experienced team who are focused on providing a timely, smooth and efficient service, Gatehouse Capital aims to offer rapid and transparent decision-making from application through to completion and beyond.”