Metro Bank reduces BTL and residential rates

Metro Bank has made changes to both its residential and buy-to-let product ranges.

Rates for buy-to-let mortgages under £2 million have been reduced by up to 40 bps, with new rates now available from:

For buy-to-let loans between £2 million and £3 million, the new rates are:

The bank’s new range for buy-to-let loans up to £5 million, are as follows:

For residential mortgages under £2 million, the bank has reduced its 5-Year Fixed up to 90% LTV by 10 bps to 2.54%.

Rates for Residential 2 and 3-Year Fixed have marginally increased and the Residential 5-Year Fixed at 65% and 70% LTV have been withdrawn, with rates now starting from  1.84% at 75% LTV.

The bank has also reduced rates across its large loan range by up to 30 bps, with application fees also cut from £4,999 to £1,999.

For residential properties between £2 million and £5 million, rates are now available from:

Metro Bank has also introduced a brand-new large loan range for loans up to £10 million, with residential rates now available from:

Charles Morley, director, mortgage distribution at Metro Bank said: “Today’s announcement demonstrates the breadth of our mortgage range. We’re here to support everyone, whether you’re a first-time buyer looking to get your foot onto the property ladder through our joint-borrower sole-proprietor mortgages; a landlord wishing to benefit from our use of top-slicing; or a customer needing a choice when it comes to obtaining a larger loan. Our wide range of products, alongside our case-by-case approach to underwriting, is proving a winning combination for customers and brokers across the UK.”