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Gatehouse Bank: Home Finance reviews

Name: Home Finance
Rating: 1 (3 reviews)

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Based on 3 reviews, last reviewed 4th Oct 2023

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This Bank is a Joke Attempted to do a Buy to let Mortgage. The property needed some upgrades, heating and damp which we were aware of and would have been completed before... Read more Reviewed on: 4th October 2023

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About the Home Finance

Gatehouse Bank offers a home finance product which effectively acts like a mortgage, but is Shariah-compliant. In this way, the property is jointly owned with Gatehouse Bank. Once all of the payments have been made, you buy them out, and the deed of the property transfers to you too. If you'd like to share your feedback about Gatehouse Bank, then please leave some feedback below!

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Gatehouse Bank Home Finance reviews (3)

This Bank is a Joke

Attempted to do a Buy to let Mortgage. The property needed some upgrades, heating and damp which we were aware of and would have been completed before exchange of contract. Gatehouse said they had to finalize the mortgage by Oct 16th giving us 3 weeks to complete the work! due to the time the mortgage had taken to complete. Time taken was excessive due to them dragging their feet when replying! Then we had the valuation done and the Surveyor valued the rental at nearly 50% below its potential. We submitted 9 independent Estate Agent rental valuations plus current properties that were being rented as comparisons. They went back to the same surveyor instead of getting a second opinion only to be told his valuation could not be changed. What a complete waste of time, even when presented with compelling evidence they can't look beyond the end of their nose. Go with a reputable mortgage company that listens to it's clients, this bank is a joke! Reviewed on: 4th October 2023

AVOID LIKE THE PLAGUE

*AVOID LIKE THE PLAGUE* Withdrew mortgage offer day before completion leaving me & my wife DEVASTATED and £2.5k out of pocket. No explanation whatsoever! I've reported them to the financial ombudsmen for their malpractice. Claim to be Shariah compliant but their actions are Haram Reviewed on: 27th April 2021

Do not touch this bank with a 10 foot bargepole

I waited for 13 months to get my application approved and nothing was done despite handing all of the documents to them. Disgraceful. Do not touch them. Reviewed on: 19th June 2019

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