Sharia-compliant cross-border bank Nomo has launched special purpose vehicles for Gulf Corporation Council clients who want to invest in UK buy-to-let properties.

The lender says the move will boost its “market reach” by offering finance options specifically for Gulf Corporation Council-based investors who want flexible options in this area.

It points out that the measure “aims to deepen relationships with brokers by expanding its product range to better meet the changing needs of their clients,” adding that “the use of special purpose vehicles has become increasingly popular among Gulf Corporation Council investors in the UK property market”.

Nomo, part of the Bank of London and The Middle East, says the service is available to clients in Bahrain, the Kingdom of Saudi Arabia, Kuwait, Qatar and the United Arab Emirates.

Nomo chief revenue officer Paul Szumilewicz says: “By introducing special purpose vehicle-focused financing solutions, Nomo is directly addressing the requirements of our clients in the Gulf Corporation Council who are increasingly turning to special purpose vehicles to structure their UK property investments efficiently.

“With this offer, we’re ensuring that clients seeking flexible property financing have the necessary support to capitalise on the unique investment opportunities within the UK property market.”