Gatehouse Capital has entered the UK bridging finance market with a Shariah-compliant short-term residential finance proposition.
The company, a sister business of Gatehouse Bank and member of Gatehouse Financial Group, will provide non-regulated residential bridging finance in England, Scotland and Wales.
Finance is available from £100,000 on standard residential bridging, with larger facilities available up to £3 million and 75% finance-to-value. Terms are available from three to 12 months, with scope to negotiate up to 18 months.
Gatehouse Capital said rates start from 0.79% for residential financing. Full rates and finance-to-value bandings are available through its website.
The business will be led by Edinburgh-based Mark Dyason, managing director of Gatehouse Capital, who has more than two decades of experience in the home finance industry, including as a specialist broker.
Dyason (pictured) says: “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 Limited and Gatehouse Capital, adds: “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.”
Gatehouse Capital said finance-to-value refers to the percentage of the property’s value being financed, equivalent to loan-to-value in conventional finance.
