IslamicFinance.de

London based Gatehouse Bank has partnered with Kuwait based Blueprint Real Estate Company to offer finance to expats looking to purchase property in the UK. Gatehouse Bank says this forms part of the strategy of its move into the home finance business. At the same time, Gatehouse Bank announced an expansion to its residential home finance team. Umar Ali has been appointed as head of home finance, while Junaid Sarwar has joined as a business development manager.

The Islamic Bank of Britain has launched two Sharia compliant buy-to-let products. The first of the products is a two-year fix available to those with a 25% deposit at a rate of 5.09%, fixed until 31 December 2015. The second two-year fix is available at 65% LTV at a rate of 4.69%. An administration fee on £995 applies and both products provide finance of between £30,000 and £500,000 across the UK and £750,000 in central London. The products have no early repayment charges for clearing the finance in full. The provider said the loans are available to landlords of any faith.