It aims to support GCC investors in the UK BTL market
Nomo, a Sharia-compliant cross-border bank, has launched special purpose vehicles (SPVs) to support Gulf Cooperation Council (GCC) clients investing in UK buy-to-let properties.
The new offering is aimed at providing financing options tailored to GCC-based investors, a growing segment of the UK property market.
The bank said introduction of SPV financing is part of its strategy to strengthen relationships with mortgage brokers and expand its product line, with SPVs having become increasingly popular among GCC buyers in the UK.
Paul Szumilewicz (pictured), chief revenue officer at Nomo, said the move responds directly to client and broker feedback on the benefits SPVs can offer to GCC residents investing in UK properties.
“By introducing SPV-focused financing solutions, Nomo is directly addressing the requirements of our clients in the GCC who are increasingly turning to SPVs to structure their UK property investments efficiently,” Szumilewicz said. “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.”
The SPV initiative also aligns with Nomo’s growth strategy and leverages the experience of its parent company, Bank of London and The Middle East (BLME), which has a track record of supporting SPVs. The bank’s expertise in this area is expected to support a smooth rollout of SPV services for Nomo’s GCC clients.
Nomo Property Finance is currently available to residents of Bahrain, Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates.
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