Cost me £50k. Gatehouse Bank plc is an award winning Shariah-compliant UK bank offering personal savings, residential & commercial property finance, commercial deposits and real estate finance. Need to see how long it takes now for the purchase time but all looks good for now. The … Firstly, who are Gatehouse Bank? When other banks do this they give you the option to withdraw funds early without penalty. Gatehouse Bank, formerly known as Milestone Savings, is a UK challenger bank based in London. Please think twice before taking mortgage out with this bank.I specifically spoke to my adviser as I wanted to avoid paying broken rent (you may have to pay for the date of your completion to the first direct debit date) I was informed you pay a month in arrears and I completed on the 1st and expected my first payment on the 1st the following month as that’s what paying a month in arrears mean. A great team who are really helpful. It is unfortunate for those who wish to opt for a Muslim mortgage that we are faced with few choices and unfortunately are at the liberty of such institutes. Direct Adviser was on the ball and proactive. Your feedback is appreciated and will help us to improve our service going forward. Summary. The timelines promised by the competitor were much quicker and taking my situation into consideration, within 2 days they took me to the same level of the process which had taken Gatehouse Bank 3 weeks. Kept the process moving along whilst keeping me informed of delays due to the stamp duty holiday. I spoke to Mufassal who listened to my questions and explained the full process thoroughly. I raised the issue with the complaints department and 10 days later and 2 calls I am still waiting. 20 Gatehouse Bank reviews. A free inside look at company reviews and salaries posted anonymously by employees. I raised the issue with the complaints department and 10 days later and 2 calls I am still waiting. Normally my company has had few issues in the past raising a mortgage but my agent suggested we try Gatehouse,Big mistake, several months later and we have withdrawn the application and gone elsewhere not before loosing the property we were purchasing.It was a simple application a buy to let on a 60/40 split very straightforward but they sent request for information out in a piecemeal fashion over months it was if they were trying their best to drag the process out as long as possible ,never again stay well away. We decided to go with Gatehouse bank as we were looking for a sheria compliant home purchase plan. I find this unexplained and worrying. Milestone Savings is a trading name of Gatehouse Bank plc and offers a range of Fixed Term Deposit and Notice accounts to the UK retail market. As a result, my meeting had been pushed back by a week and I would have to re-start the whole process again including the decision in principle which I had already covered as the advice received had to be specific to each an individual advisor. HELL AND BACK!Quite the irony that one decides to use the services of an Islamic bank and my title refers to hell. I was asking for a mortgage on a property since February which only now In December have I received a reply that they would stop the process. Thank you, Gatehouse Bank Plc. Honestly, purchasing a home has been the most traumatic and difficult experience I have had to deal with. I sent in my enquiry and within a space of few hours, I received a callback. I am happy I spoke to someone as now I have a better understanding of the process thanks to Mufassal! Although it does take time to get from Application to Completion, if you have everything in place you will get there.In summary, I would highly recommend the team at Gatehouse Bank for their level of experience, service and keeping their promise on delivery.Thank you all so much!Mahomed, Leicester, UK. I would advise Gatehouse that their time would be better spent correcting their failing level of service rather than feigning privacy concerns in order to have reviews removed.Having said that in order to comply with guidelines all names have been removed and replaced with 'X', 'Y' and 'Z' ___________________________________________I approached Gatehouse Bank to facilitate an Islamic Finance product and was allocated X as my financial advisor. Money Compare is a trading name of Which? Gatehouse Bank is a bank based in central London, Mayfair to be precise. As is mentioned by a previous review, i found the whole process with Gatehouse Bank to be lengthy, frustrating and ultimately a waste of time and effort which could have been better served elsewhere. X (or X as he likes to be known) expertly guided me through the process and delivered a decision in principle on the same day. Founded in 1990, Zenith Bank is a multinational financial services company based in Nigeria. I would advise Gatehouse that their time would be better spent correcting their failing level of service rather than feigning privacy concerns in order to have reviews removed.Having said that in order to comply with guidelines all names have been removed and replaced with 'X', 'Y' and 'Z' ___________________________________________I approached Gatehouse Bank to facilitate an Islamic Finance product and was allocated X as my financial advisor. This is a vital protection for savers, particularly those depositing money with banks based in other … Process took a bit longer than expected due to current Environment but overall it was very good. A great team who are really helpful. Having spoken with him, I am eager to find a property and more importantly use Gatehouse Bank for my shariah finance. His customer service skills and knowledge was exceptional. I find this unexplained and worrying. Dangerously bad, misleading and badly represented by intermediary. An internet search of Gatehouse reviews worried us greatly which we communicated to our agent. It doesn’t just focus on the big UK brand names, but promises to provide secure savings products regardless of where the bank was founded. this is a good example of working as a team. GateHouse Bank – 5 Years – 2.10% AER If you’re looking for a slightly better rate – and you’re happy to lock order to get the highest paying yields with a fixed-rate savings … Thank you, Gatehouse Bank Plc. Keep away from this lot....Good in the beginning, AiP etc then the adviser went ill for weeks with poor communication.Then underwriter gets involved.Mine was unprofessional, haphazard and would ask for different in depth detail each of the 4 times they reviewed my file instead of asking for a list of things and getting things done in one go.They were slow and under resourced.In the end a "head office review" ended my application and house purchase.I was vexed to say the least. The timelines promised by the competitor were much quicker and taking my situation into consideration, within 2 days they took me to the same level of the process which had taken Gatehouse Bank 3 weeks. X had provided excellent service; I received a call three days before my meeting from a Y explaining to me that X had taken an extended period of leave due to personal circumstances and as a result my file would be handed to Z. It is the biggest commercial bank in Nigeria and the sixth biggest bank … We found out that the mortgage was being processed by Gatehouse Bank. Rather he would calm us, chase up the application status and give constant updates as we progressed through the different stages. As you can see from other reviews they have no problem with their staff members names being identified when the reviews are positive. But we were assured that the mortgage application had already been in process for 5 weeks and so was ‘well under way’. I’d say from our experience steer well clear from this bank. Thank you Mufassal you are a great asset to Gatehouse Bank, Professional & Reliable! I sent in my enquiry and within a space of few hours, I received a callback. A week later I finally received a call back from Z. I explained that I had taken the services of a different lender. Would use again. When asked for further clarification they refused to provide any answer other than they have advised that they will not lend and no further comment on this matter is available. Having spoken with him, I am eager to find a property and more importantly use Gatehouse Bank for my shariah finance. Following the acceptance of my bid on a property, X put in place a meeting for the following Monday to discuss the finance offer. I am extremely happy with the service Gatehouse Bank provided. We would recommend Gatehouse to anyone looking for a home purchase plan. special thanks to Lottie Clayton who went out of her way to help me with this case and Chelsea O’Grady was always there for any support needed. I have now passed the matter to the financial ombudsman to support me. Al Rayan Bank’s majority shareholder MAR is based in Qatar whilst the Bank of London and the Middle East is listed on the Dubai NASDAQ stock exchange. We accepted an offer on my parents house in August last year and they put a deposit down on a new build. Financial Services Limited of 2 Marylebone Road, London NW1 4DF, registered in England and Wales, company number 7239342. The agent I dealt with has been wonderful and a credit but the figures in the background who choose not to be reachable or willing to talk to customers are the problem. © 2021 Trustpilot A/S. I received no apology for the poor customer service just a simple okay and goodbye ending my business relations with Gatehouse.In conclusion, although the relationship started well, I believe as a result of my experience that Gatehouse Bank does not have the level of service and resource capacity to adequately handle home purchase products. My family and I were taking the step of buying our first property and I can truly say we received impeccable service from Paul Jones at Gatehouse Bank.Naturally, we were anxious with all the paperwork involved. Any potential clients please be aware of the delay tactics and go with a company which is more professional. We’re sorry to hear that your experience of Gatehouse Bank was disappointing. The good news is Gatehouse Bank has recently had the best, or close to the best interest rates in the market (although, as a Shariah-compliant bank, this is an expected return). His customer service skills and knowledge was exceptional. Gatehouse had the best rates in comparison to equivalent banks.We found the bank took a lot longer than conventional banks to get to offer stage but this was expected to a degree as it is still fairly new and teething problems are expected. In the end this is what I had to do in order to complete the purchase and as a result I will apply for a remortgage elsewhere. I was asking for a mortgage on a property since February which only now In December have I received a reply that they would stop the process. The agent I dealt with has been wonderful and a credit but the figures in the background who choose not to be reachable or willing to talk to customers are the problem. An ethical savings account can be the following things: A savings account offered by a financial institution that makes a commitment to not have a negative impact on our society or environment. X had provided excellent service; I received a call three days before my meeting from a Y explaining to me that X had taken an extended period of leave due to personal circumstances and as a result my file would be handed to Z. The process has gone to pots and 5 months on we were going back and forth with emails and request after request after request. If they simply didn't want to lend for whatever reason, it should not have taken the best part of 10 months to say so! Rate reduced on 95 day notice account with only 1 month's notice. When other banks do this they give you the option to withdraw funds early without penalty. Profess halal credentials. We’re sorry to hear that your experience of Gatehouse Bank was disappointing. Steer well clear of this bank unless you aren’t in any rush, Stay clear if looking for a buy-to-let mortgage. Mortgage application. Your savings account with us works similar to a conventional savings account, … The ATOM Bank Savings … I have now passed the matter to the financial ombudsman to support me. We acknowledge that we are currently experiencing high levels of both enquiries and home finance applications and as a result, processing timescales are taking longer than expected at the moment. © 2021 Trustpilot, Inc. All rights reserved. Gatehouse Bank savers enjoy competitive rates generated from ethical, socially responsible investments. Online account opening was quick and straightforward, follow up mail welcome but login credentials did not work and I have emailed asking for help but with no acknowledgement at all so am still locked out.Gatehouse, Charter Savings and Paragon Bank all have the same contact details but claim to be separate institutions. Gatehouse Bank joins UNEP FI as a founding signatory It is great to see our CCO, Paul Stockwell in Mortgage Strategy’s latest magazine, discussing the rental sector. Mortgage application. Please call our customer services team on 0345 600 3350 (between 9am-5pm Monday-Friday) if you are still experiencing problems, who will be able to resolve any issues. However was charged £400 broken rent. Gatehouse Bank is a pioneering UK Bank offering Shariah-compliant ethical savings, home finance, buy-to-let finance, commercial property finance and more. 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