Nomo, the world’s first Sharia-compliant cross border bank, has this week introduced Special Purpose Vehicles (SPVs) to support its Gulf Corporation Council (GCC)[1] clients investing in UK buy-to-let properties, in a move designed to provide tailored financing solutions to an underserved part of the market. This expansion will enhance Nomo’s market reach by offering financing options specifically developed for GCC-based investors seeking flexibility in their UK property investments.
With the new SPV financing option, Nomo aims to deepen relationships with brokers by expanding its product range to better meet the changing needs of their clients. The use of SPVs has become increasingly popular among GCC investors in the UK property market and this launch reinforces Nomo’s commitment to delivering property finance solutions that align with the investment goals of GCC-based investors.
The changes are being made following feedback from clients and brokers, that gave Nomo insight into the unique value SPVs can bring to GCC residents purchasing UK properties.
Paul Szumilewicz, Chief Revenue Officer, Nomo said: “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. 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.”
This SPV-focused initiative aligns closely with Nomo’s growth strategy, enabling it to broaden its property finance capabilities. Benefiting from the extensive experience of its parent company, Bank of London and The Middle East (BLME), which has successfully supported SPVs for many years, Nomo will be able to adopt existing practices to seamlessly integrate this offering.
