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Gatehouse Bank has expanded its offering of sustainable products to British expats and international residents.
This will apply to Home Buying and Buy-to-Rent plans, including multi-unit dwellings (HMOs) and multi-unit dwellings.
The lender says its green home finance products are the first Sharia-compliant products of its kind in the UK.
Under this scheme, customers buying or refinancing properties rated A or B under an Energy Performance Certificate (EPC) will be eligible for a 0.10% discount on the standard rental rate.
Gatehouse Bank will also offset the carbon emissions generated by average UK properties for an initial fixed term of two or five years and for as long as the client remains with the lender with the qualifying property.
In addition, the bank has increased the maximum funding amount for its green home financing products from £500,000 to £5 million.
Every product in the bank’s portfolio now has a green variant.
In addition, existing customers who qualify and are nearing the end of the deadline will automatically be offered green product options.
Gatehouse Bank Senior Product Manager John Mace comments: “Our Shariah compliant green home financing offering is unique in the sector and has been designed to enhance our competitiveness while supporting clients looking to reduce their environmental impact.”
“This announcement is also a step forward in fulfilling Gatehouse Bank’s own environmental commitments as a signatory to the UN Principles for Responsible Banking, in which we committed to strategically align our business with the UN Sustainable Development Goals and the Paris Climate Agreement.”
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