Landlords with a deposit of 35% can now access finance from just 4.49%, with an option to take a rent-only BTLPP.
The 0.4% cut is the latest in a series of rental rate reductions the Bank has applied to both its residential and buy-to-let finance products.
Imran Pasha, head of sales and service at the Islamic Bank of Britain, said: “IBB has reduced its rental rates again, specifically for landlords with a deposit of 35%, to 4.49%.
“This deal comes with a rent-only payment option, which helps to lower the landlord’s monthly payments even further.
“IBB’s recent rental rate reduction has been made in response to demand from investors keen to access affordable, Sharia compliant buy-to-let products which allow them to maximise the potential of the active rental market.”
Intermediaries can find out more by accessing IBB’s dedicated intermediary support service, the only one to be provided by a UK-based Sharia compliant finance provider.
