Gatehouse Capital has today launched into the UK’s bridging finance space.
The Sharia-compliant firm, which is a sister company of Gatehouse Bank and a member of Gatehouse Financial Group, will offer non-regulated, short-term residential finance and serve borrowers in England, Scotland and Wales.
Gatehouse Capital said it will cater to those seeking finance from £100,000 for standard residential bridging. It will also offer large bridging finance up to £3m and 75% finance to value (FTV).
All its products are available on 3-12-month terms, and these are negotiable to 18 months.
The firm’s rates for residential financing start from 0.79%.
Mark Dyason, managing director of Gatehouse Capital, said: “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.
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“We want to bring greater clarity to that process through a simple approach of providing transparent, upfront pricing and by structuring our finance in a way that is both Sharia-compliant and commercially competitive.”
Charles Haresnape, director of Gatehouse Financial Group Limited and Gatehouse Capital, added: “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.”
At the beginning of the year, Gatehouse Bank announced it had entered an agreement with fintech firm Algbra to give overseas buyers access to finance.