Finance
Metro Bank Refreshes Rates Across Mortgage Rates
- Reintroduces new competitive LTV bands across 5 Year Fixed range from 1.94%
- Large loans now benefit from single pricing structure
Metro Bank, the revolution in British banking, has refreshed rates across its Residential, Buy-to-Let (BTL) and Large Loan ranges.
Charles Morley, Director Mortgage Distribution at Metro Bank commented: “Today’s changes provide 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 top choice for brokers and customers across the UK.”
In its Residential Core 5 Year Fixed range, the bank has reintroduced a number of new LTVs, with rates now starting from 1.94%. It has also increased rates by up to 5bps across its 2 and 3 Year Fixed ranges.
| RESIDENTIAL | |||
| Core 5 Year Fixed | |||
| LTV | Change | New rate | Fee |
| 60% | NEW | 1.94% | £999 |
| 75% | NEW | 1.99% | £999 |
| 80% | NEW | 2.04% | £999 |
All changes to the Residential Core range are mirrored across the Professional Residential ranges. The Remortgage range will also benefit from the same LTV bands as the Core range.
Rates on the bank’s 2 and 5 Year Residential Trackers have also been reduced by up to 35 bps, with rates now starting from 1.84%.
Martin Reynolds, CEO of SimplyBiz Mortgages added: “Metro Bank have always been recognised for their excellent service, over the last 12 month their 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 means 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.”
On loans up to £10 million, customer will now benefit from the same rates applied to the lower large loans range of £2 million to £5 million. Rates on the 2 and 3 Year Fixed have increased by 10bps.
The bank has also launched a new 60% LTV in its BTL range with rates now available from 2.39%. It has increased rates in its BTL range by up to 10bps.
Source: Metro Bank
