It made policy improvements, launched new products, and reduced rates
Metro Bank has announced changes to its residential and buy-to-let mortgage range aimed at supporting customers amid an uncertain economic climate.
The lender has introduced policy improvements by enhancing income multiples reintroduced for residential remortgages and purchases, reducing five-year fixed BTL stress rate, and reintroducing portfolio buy-to-let.
The bank has also expanded its residential product offering by launching new 60% and 85% loan-to-value (LTV) products and new three-year fixes across all LTVs under its core range. It has also reintroduced legal-assist remortgage products and reduced product fees.
Under its large loan range, the bank has unveiled a new 60% LTV product with rates starting from 4.39% and new three-year fixes available across all LTVs. Legal-assist remortgage products were also reintroduced.
Metro Bank’s professional range also received a boost with reduced pricing across the range with a max LTV of 85% and reduced product fees.
The buy-to-let product enhancements include a new 60% LTV BTL product, a new two-year fixed rate, reintroduced legal-assist remortgage products, and reduced rates and product fees.
“We’re so pleased to unveil these positive changes to our residential and buy-to-let mortgage product range, allowing us to help more customers who may be struggling to get a mortgage elsewhere,” Charles Morley (pictured), director of mortgage distribution at Metro Bank, remarked.
“This is particularly important given today’s economic backdrop of the cost-of-living crisis and rising energy costs. This move further demonstrates our commitment to consumers, market confidence, and the resilience of the sector.”
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