Metro Bank has reduced interest rates by 0.2 percentage points across its fixed rate buy-to-let mortgage range for borrowers up to 70% LTV.
All re-mortgage customers will continue to benefit from two fee assisted re-mortgage options, up to a maximum property value of £2 million.
The new rates are now available as follows:
| BUY TO LET | ||||
| Core 2 Year Fixed Rates: | ||||
| LTV | Current rate | Change | New rate | Fee |
| 60% | 2.29% | -0.20% | 2.09% | £999 |
| 65% | 2.44% | -0.20% | 2.24% | £999 |
| 70% | 2.54% | -0.20% | 2.34% | £999 |
| 75% | 2.64% | NO CHANGE | £999 | |
| Core 3 Year Fixed Rates: | ||||
| LTV | Current rate | Change | New rate | Fee |
| 60% | 2.34% | -0.20% | 2.14% | £999 |
| 65% | 2.49% | -0.20% | 2.29% | £999 |
| 70% | 2.54% | -0.20% | 2.34% | £999 |
| 75% | 2.69% | NO CHANGE | £999 | |
| Core 5 Year Fixed Rates: | ||||
| LTV | Current rate | Change | New rate | Fee |
| 60% | 2.39% | -0.20% | 2.19% | £999 |
| 65% | 2.59% | -0.20% | 2.39% | £999 |
| 70% | 2.64% | -0.20% | 2.44% | £999 |
| 75% | 2.84% | NO CHANGE | £999 | |
Metro Bank continues to provide one single point of contact throughout a customer’s mortgage process and uses individual case underwriting so that personal circumstances can be considered.
Andy Piggott, director of lending products at Metro Bank, said: “These interest rate reductions are great news for landlords looking to guarantee their mortgage repayments for a period of time – allowing them to better plan their investments and giving them peace of mind for the longer-term.”