This follows the Bank’s decision to reduce its maximum FTV to 65% on 1 April, due to difficulties in gaining physical valuations during the lockdown.

As physical valuations can now be carried out following the lockdown conditions in England, Gatehouse Bank can now resume finance new builds, Houses in Multiple Occupation (HMO), Multi-Unit Freehold Blocks (MUFBs) and apartment buildings with more than six storeys. The maximum FTV for HMOs and MUFBs is 70%.

The changes also mean that any applications submitted before the lockdown in March for finance between 65% and 75% FTV will proceed, and new applications can be made up to the 75% FTV limit.

Finance to value (FTV) is the Shariah-compliant equivalent of loan to value (LTV) for conventional mortgages.

Roger Evans, director of home finance distribution at Gatehouse Bank, said: “We are pleased to be able to offer 75% FTV products at competitive rates for UK, expat and international customers.

“The return of physical valuations also means that we are now able to welcome new applications up to 75% FTV for new builds and apartment buildings above six storeys and 70% FTV for HMOs and MUFBs.

“We have seen considerable demand from these specialist markets since launching our initial home finance proposition in 2018.

“Customers who applied for finance between 65% and 75% FTV, who have not had a valuation carried out, will see their applications proceed in earnest.”