Gatehouse Bank has made rate reductions of up to 45 basis points on its buy-to-let (BTL) products and 31 basis points across its home finance range.

For BTL, the headline rate cut occurs on the 65% finance to value (FTV) on a five-year fix providing a rate of 3.79% for loan amounts over £500,000 and 3.99% for borrowing amounts below this figure.

It also means that BTL rates now start at 3.39%, specifically for the 65% FTV two-year fix.

Within the home purchase plan (HPP) range, the biggest reduction takes place on the 75% FTV two-year fix, which is now 3.89% for amounts over £500,000 and 4.09% below.

This results in HPP products beginning at 3.19% for a 65% FTV two-year fix.

Gatehouse Bank product manager John Mace says: “Islamic home finance remains a growing force in the UK and these changes will enhance our competitiveness at a time when life is slowly returning to normal.”