Al Rayan Bank, the UK’s largest Islamic Bank, has launched a new Limited Company Buy To Let Purchase Plan (BTLPP) for landlords to purchase their investment properties in a more tax efficient way.
The Bank, which is celebrating its 15th anniversary this year, is offering customers a variable rental rate of 3.89%, and a fixed rental rate of 3.99%. The maximum finance-to-value (FTV) on rent and acquisition products is 75%, and 65% FTV on rent-only.
Maisam Fazal, Chief Commercial Officer at Al Rayan Bank, said: “Al Rayan Bank has built its reputation on developing innovative Sharia compliant and ethical banking products which meet its customers’ needs. The new Limited Company Buy To Let Purchase Plan broadens our offering and helps us to ensure we provide a full suite of products for landlords.