Gatehouse Bank launches Islamic home financing platform
UK-based challenger Gatehouse Bank has launched a Shari’ah-compliant home finance platform.
It is underpinned by a bespoke case management solution, based on BEP Systems’ Apprivo2. It uses “cloud-based, mobile-ready technology” and will enable intermediaries to “effortlessly process home finance and buy-to-let applications from enquiry through to completion”, Gatehouse Bank says.
The platform will be supported by a team of specialists based at the bank’s new customer service centre in Milton Keynes.
The bank currently offers buy-to-let finance and plans to roll out Shari’ah-compliant home owner finance through selected brokers in the near future. Home finance products (also known as home purchase plans) are the Islamic alternative to traditional mortgages.
Chris Little, managing director of BEP Systems, believes Gatehouse Bank “is set to become a major force within the huge growth sector that is Shari’ah-compliant home finance”. He hopes the Apprivo2 platform “will make the journey ahead seamless and effortlessly scalable”.
Authorised in 2008 and based in Mayfair, London, Gatehouse Bank specialises in real estate investment and financing, offering savings products and finance for UK commercial and residential real estate. It also sources and advises on UK real estate investments with a focus on the build-to-rent sector. The bank advises funds with approximately $1.2 billion in real estate assets in the UK and the US.
