Al Rayan Bank has extended its BTL range and is now offering landlords 80% finance-to-value (FTV) for its BTL purchase plan (BTLPP) products.
These sharia-compliant products — which are also available to UK expats — were previously only available for up to 75% FTV.
Further details of the products include:
|
BTL purchase plans |
||||
|
Finance to value |
Discounted variable rental rate |
Fixed rental rate |
Expat discounted variable rental rate |
Expat fixed rental rate |
|
Up to 75% |
3.64% |
3.74% |
3.89% |
3.99% |
|
75% to 80% |
3.74% |
3.84% |
3.99% |
4.09% |
|
Admin fee 1% of finance balance (min £995) |
||||
“With this latest product extension, the possibility of purchasing a BTL property has been made more widely available,” said Maisam Fazal, chief commercial officer at Al Rayan Bank (pictured above).
“We’re continually striving to offer a full range of sharia-compliant, best-in-class products to our customers of all faiths and none, and this is the latest offering in our award-winning products.”
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