There is also a top-up option available for existing homeowners and rate switch options for existing customers.
Metro Bank has introduced a 95% loan-to-value (LTV) residential purchase-only mortgage product.
The offering is a 95% LTV 5-year fix at 3.89%, which includes a maximum loan size of £570,000.
There is also a top-up option available for existing homeowners and rate switch options for existing customers.
Charles Morley, director of mortgage distribution at Metro Bank, said: “As one of the only lenders to consistently remain in the higher LTV market throughout the coronavirus pandemic, we’ve been working hard to launch into 95% LTV residential mortgages.
“Our customers will benefit from a competitive 5-year fixed rate.
“We’ve also been making a number of new hires across our mortgages business recently, offering specialist lending expertise as we look to appeal to an ever wider range of mortgage customer.”
