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Metro Bank updates mortgage rates

Martin Greenland | 14:58 Friday 15th June 2018

Metro Bank has refreshed the rates across its residential, buy-to-let (BTL) and large loan ranges.

In the challenger bank’s residential five-year fixed range, it has reintroduced a number of new LTVs, with rates now starting from 1.94%.

Metro Bank has also announced the launch of a new 60% LTV in its BTL range – with rates now available from 2.39%.  

The bank has increased rates in its BTL range by up to 10bps.

It has also pushed up its rates by up to 5bps across its two- and three-year fixed ranges.

The changes made to the residential core range are mirrored across the professional residential ranges.

The bank’s remortgage range will also benefit from the same LTV bands as the core range.

Charles Morley, director of mortgage distribution at Metro Bank, said that these changes provided brokers and customers with even more choice and flexibility.

“Our broad range of products combined with our comprehensive criteria and great customer service, means we’re fast becoming [the] top choice for brokers and customers across the UK.”

On loans up to £10m, customers can now benefit from the same rates applied to the lower large loans range of £2m-5m.

Martin Reynolds, CEO at SimplyBiz Mortgages, added: “Metro Bank [has] always been recognised for [its] excellent service, over the last 12 month [its] criteria enhancements have improved this further.

“The launch of these new products, the reintroduction of product LTV bandings and the harmonisation of the £10m+ loans with the £2m+ products mean they will be the go-to lender for a number of our members.

“Their growth within our distribution during the last 12 months of Metro will only continue with these enhancements.”

The two- and five-year fixed ranges have seen rates increased by 10bps.

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