Gatehouse Bank

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Gatehouse Bank PLC
Company typePublic limited company
IndustryInvestment Banking, Financial services
Founded2007 (London)
Headquarters
London
,
London, United Kingdom
Area served
Worldwide
Key people
Fahed Boodai (Chairman), Charles Haresnape (CEO)
ProductsFinance, investment banking, wealth management, real estate, Shariah advisory
Total assets£1.2bn
Number of employees
201
Websitewww.gatehousebank.com

Gatehouse Bank PLC (بوابة البيت) is a UK regulated bank headquartered in London, with additional offices in Milton Keynes and Wilmslow.[1]

Gatehouse Bank was founded in 2007[2] and is a Shariah-compliant challenger bank which is a subsidiary of Gatehouse Financial Group Limited.[3] It is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority (FCA).[2] The Bank operates in accordance with Shariah principles, offering savings products[4] and finance for UK commercial and residential real estate.[5] Through its subsidiary, Gatehouse Investment Management, it also sources and advises on UK real estate investments[6] with a focus on Build to Rent and the private rented sector.

Gatehouse Bank’s business and operations are conducted in accordance with the Shariah principles of transparent, fair, and socially responsible banking. This includes operating in a way which shares risk and reward equitably. No funds are invested in non-Shariah compliant industries such as arms, alcohol, tobacco, and adult entertainment.[7] In 2019, Gatehouse Bank joined 129 founding members from around the world in becoming a founding signatory to the UN Principles for Responsible Banking.[8]

Gatehouse has been in[9] the UK private rented sector (PRS) since 2014 with the aim to address[10] the nation’s housing shortage. In December 2015, Lord O'Neill, Commercial Secretary to the Treasury and the Regeneration Investment Organisation (RIO), which is part of UK Trade & Investment (UKTI), singled out Gatehouse's PRS programme as a model for how foreign investment can help alleviate the UK's housing crisis.[11]

Leadership  

Fahed Boodai – Chairman[12]

Gerald Gregory – Deputy Chairman[12]

Abdulaziz Saud AlBader – Vice Chairman[12]

Lesley Beecher – Non-Executive Board Member[12]

Charles Haresnape – Chief Executive Officer[12]

Danesh Mahadeva – Chief Financial Officer[12]

Dr Usman Chaudry – Chief Risk Officer[12]

Paul Stockwell – Chief Commercial Officer[12]

Tim Blease – Chief Information & Transformation Officer[12]

Tracey Bailey – Chief Operating Officer[12]

Andy Homer – Chief Customer Officer[12]

Mohaimin Chowdhury – Chief Legal Officer[12]

Joanna Collings – Chief People Officer[12]

Products and Services  

Gatehouse Bank provides a range of property finance solutions across England and Wales for UK residents, expats and international residents.[13] The Bank’s home purchase plans[14] offer a Shariah-compliant alternative to traditional mortgages. It also offers Buy-to-Let purchase[15] plans, as a Shariah-compliant alternative for landlords. Over the last few years, the Bank has also established itself in the Build-to-Rent sector, with its subsidiary, Gatehouse Investment Management, launched in 2023.[16] As of March 2023, Gatehouse Bank has a 100% holding in property management provider, Ascend Estates Limited.[17]

Gatehouse Bank is known for offering competitive rates on its savings accounts,[18] which offer an Expected Profit Rate (EPR) rather than an Annual Equivalent Rate (AER).[13] Its Woodland Saver accounts are designed to support UK woodland growth, as for every account opened or renewed, Gatehouse plants a tree in a certified UK woodland project.[19] These are certified by the UK government’s Woodland Carbon Code,[20] which delivers externally verified projects, certified by UKAS accredited bodies to ISO standards,[20] that offer tangible social and environmental benefits, including registered carbon credits.[20]

As of February 2023,[21] Gatehouse Bank has planted over 30,000 trees in woodland projects across the UK.

In 2022, the Bank launched a mobile savings app available on iOS and Android.[22] The app allows existing customers to view their account details and balance, recent transactions, and withdraw or transfer funds between Gatehouse Bank savings accounts.[22]

Recent Growth

In 2021, Gatehouse Bank launched a series of higher finance to value products to assist UK first-time buyers or homebuyers with smaller deposits.[23] Gatehouse’s home finance offering saw a 40% portfolio growth to £762m.[24]

In 2022, the Bank announced that it had surpassed £1bn in financed assets.[25]

In June 2023, Gatehouse Bank announced that it had surpassed £8mn in post-tax profits for the previous financial year.[26] This milestone followed record levels of growth with a 30% rise in total asset value, now totalling £1.3bn (2021: 1.03bn).[27]

Awards

  • 2023 Moneyfacts Awards – Best Fixed Account Provider[28]  
  • 2023 IFN Awards – Most Innovative Bank in the UK[29]  
  • 2023 IFN Awards – Best Islamic Bank in the UK[30]
  • 2023 MoneyComms Award – Best Ethical Cash ISA Provider[31]
  • 2022 Moneyfacts Awards – Best Fixed Account Provider[28]
  • 2022 International Business Magazine Awards – Best Shariah-Compliant Bank, UK[32]
  • 2022 International Business Magazine Awards – Best Corporate Social Responsibility Bank, UK[32]
  • 2022 Moneynet Awards – Best Ethical Savings Provider[33]
  • 2021 MoneyAge Awards – Savings Account Provider of the Year[34]
  • 2021 Global Islamic Finance Awards (GIFA) – Best Islamic Bank for Property & Real Estate Finance[35]
  • 2021 Moneyfacts Awards – Innovation in Personal Finance (Green Saver)[36]
    • Highly Commended for Best Fixed Account Provider
  • 2021 Moneycomms Awards – Top Performer for Best Ethical Savings Initiative (Green Saver)[37]
  • 2021 Moneynet Awards – Best Ethical Savings Provider[38]
  • 2020 Islamic Finance News Awards – Best Islamic Bank in the UK[39]
  • 2020 Moneynet Awards – Best Ethical Savings Provider[40]
  • 2020 Global Islamic Finance Awards (GIFA) – Best Islamic Bank for Property & Real Estate Finance[35]
  • 2020 Moneycomms Awards – Top Performer for Best Fixed Term Deposit Provider[41]
  • 2020 Moneyfacts Awards – Commended, Best Internet Account Provider – Commended, Best Fixed Account Provider – Commended, Best Bank Savings Provider[42]
  • 2019 Moneynet Awards – Best New Savings Provider[43]
  • 2019 Islamic Retail Banking Award (IRBA) – Best Islamic Home Financing Platform[44]
  • 2019 Moneyfacts Awards – Highly Commended for Best Internet Account Providers[45]
  • 2019 Global Islamic Finance Awards (GIFA) – Special Award (Leadership Role) – Charles Haresnape, CEO, Gatehouse Bank[35]
  • 2019 Global Islamic Finance Awards (GIFA) – Best Islamic Savings Products[35]
  • 2019 Arabian Business London Awards – Award for Business[46]
  • 2018 Credit Financier Invest (CFI) Awards – Best Shariah-compliant Home Finance Bank UK[47]  
  • 2018 Global Islamic Finance Awards (GIFA) – Best Islamic Investment Bank[35]

References:

References[edit]

  1. ^ "Get in touch | Contact Us". Gatehouse Bank plc. Retrieved 2023-12-05.
  2. ^ a b "FAQs | Gatehouse Bank". Gatehouse Bank plc. Retrieved 2023-12-05.
  3. ^ "HOME". gatehouse-group. Retrieved 2023-12-05.
  4. ^ "UK Ethical savings accounts at competitive rates". Gatehouse Bank plc. Retrieved 2023-12-05.
  5. ^ "Gatehouse Bank launches Commercial Property Finance". Gatehouse Bank plc. 2018-11-22. Retrieved 2023-12-05.
  6. ^ "Welcome". Gatehouse Investment Management. Retrieved 2023-12-05.
  7. ^ Solutions, Mortgage (2023-08-14). "HPP, ESG and SDG: Getting to grips with Shariah-compliant finance – Clayton". Mortgage Solutions. Retrieved 2023-12-05.
  8. ^ "Signatories". Retrieved 2023-12-05.
  9. ^ "PRS/Build to rent". Gatehouse Bank plc. Retrieved 2023-12-05.
  10. ^ "Gatehouse Bank and Sigma Capital commence construction of largest…". Gatehouse Bank plc. 2014-11-26. Retrieved 2023-12-05.
  11. ^ Media, Insider (2015-12-09). "Sigma launches £114m second phase of PRS project". Insider Media Ltd. Retrieved 2023-12-05.
  12. ^ a b c d e f g h i j k l m "Our Board of Directors | About Gatehouse". Gatehouse Bank plc. Retrieved 2023-12-05.
  13. ^ a b "UK Ethical Banking, Savings & Finance". Gatehouse Bank plc. Retrieved 2023-12-05.
  14. ^ "Islamic Mortgage Alternative - buy a home". Gatehouse Bank plc. Retrieved 2023-12-05.
  15. ^ "Buy-to-Let mortgage alternatives". Gatehouse Bank plc. Retrieved 2023-12-05.
  16. ^ Patel, Bea (2023-06-20). "Gatehouse IM completes refinancing deal with LGIM". BTR News. Retrieved 2023-12-05.
  17. ^ "About Ascend properties". Ascend Properties. Retrieved 2023-12-05.
  18. ^ "Gatehouse Bank announces market-leading 1 and 2 year savings account…". Gatehouse Bank plc. 2022-07-19. Retrieved 2023-12-05.
  19. ^ "Competitive Woodland Saver accounts | Gatehouse Bank". Gatehouse Bank plc. Retrieved 2023-12-05.
  20. ^ a b c "Woodland Saver Tree Planting Scheme" (PDF).
  21. ^ "Gatehouse Bank Annual Report" (PDF).
  22. ^ a b "Gatehouse Bank introduces new Savings App". Gatehouse Bank plc. 2022-06-29. Retrieved 2023-12-05.
  23. ^ Tuahene, Shekina (2022-08-09). "Gatehouse Bank's home finance portfolio surges 40 per cent to £762m". Mortgage Solutions. Retrieved 2023-12-05.
  24. ^ Hay, Bryan (2022-08-09). "Gatehouse Bank achieves 40% home finance portfolio growth fuelled by record originations". The Intermediary - Latest UK mortgage news. Retrieved 2023-12-05.
  25. ^ "Gatehouse Bank exceeds £1bn in financed assets". bridgingandcommercial.co.uk. Retrieved 2023-12-05.
  26. ^ "Gatehouse Bank surpasses £1 Billion in financed assets". Gatehouse Bank plc. 2022-09-05. Retrieved 2023-12-05.
  27. ^ "Gatehouse Bank reports strong growth and robust financial performance". Gatehouse Bank plc. 2023-06-19. Retrieved 2023-12-05.
  28. ^ a b "Moneyfacts Award winners 2023". www.moneyfactsgroup.co.uk. Retrieved 2023-12-05.
  29. ^ "Gatehouse Bank Named UK's Most Innovative and Best Islamic Bank". ffnews.com. Retrieved 2023-12-05.
  30. ^ "Gatehouse Bank Named UK's Most Innovative and Best Islamic Bank". Gatehouse Bank plc. 2023-04-04. Retrieved 2023-12-05.
  31. ^ "Top Performers - Money Comms". moneycomms.co.uk. 2023-08-29. Retrieved 2023-12-05.
  32. ^ a b "Business Awards Journal | Business Magazine Awards - 2022". INTLBM. Retrieved 2023-12-05.
  33. ^ "Moneynet Awards 2022 | moneynet.co.uk : moneynet.co.uk". Retrieved 2023-12-05.
  34. ^ Griffiths, Michael (2021-08-10). "MoneyAge Awards 2021 – winners announced". Money Age. Retrieved 2023-12-05.
  35. ^ a b c d e "GIFA | Winners". gifaawards.com. Retrieved 2023-12-05.
  36. ^ "Moneyfacts Award winners 2021". www.moneyfactsgroup.co.uk. Retrieved 2023-12-05.
  37. ^ "MoneyComms recognises the Top Performers 2021 - Money Comms". moneycomms.co.uk. 2021-03-24. Retrieved 2023-12-05.
  38. ^ "Moneynet Awards 2021 | moneynet.co.uk : moneynet.co.uk". Retrieved 2023-12-05.
  39. ^ "IFN - IFN Best Banks Poll 2020: A year of surprises". Islamic Finance News. 2021-01-12. Retrieved 2023-12-05.
  40. ^ "Moneynet Awards 2020 | moneynet.co.uk : moneynet.co.uk". Retrieved 2023-12-05.
  41. ^ "Sharing the top savings deals & money tips - Money Comms". moneycomms.co.uk. 2021-07-18. Retrieved 2023-12-05.
  42. ^ "Moneyfacts Award winners 2020". www.moneyfactsgroup.co.uk. Retrieved 2023-12-05.
  43. ^ "Moneynet Awards 2019 – Winners | moneynet.co.uk : moneynet.co.uk". Retrieved 2023-12-05.
  44. ^ "IRBA Past Winners".
  45. ^ "Moneyfacts Award winners 2019". www.moneyfactsgroup.co.uk. Retrieved 2023-12-05.
  46. ^ Gatehouse (2019-06-30). "FAHED BOODAI RECEIVES AWARD FOR BUSINESS AT FIRST ARABIAN BUSINESS LONDON AWARDS". gatehouse-group. Retrieved 2023-12-05.
  47. ^ Gent, Oscar van (2018-10-17). "Gatehouse Bank: Best Shariah-Compliant Home Finance Bank UK 2018". CFI.co. Retrieved 2023-12-05.
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