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Metro confirms customer retention proposition

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  • 09/11/2015
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Metro confirms customer retention proposition
Metro Bank has announced a raft of customer retention strategies, including a £500 saving on product transfers.

The bank is offering the same rates to new and existing customers, will allow switching up to three months early and offers further advances at the new customer rate.

The bank is also paying procuration fees to advisers for products taken out via its online portal, launched in September.

Charles Morley, head of mortgage distribution, Metro Bank, said: “These initiatives represent the latest milestone in our journey and reinforce our commitment to offering customers the very best in service and convenience.”

Jeremy Duncombe, Legal and General Mortgage Club, said: “Following on from Metro Bank’s Intermediary Switching Portal, which incorporates a procuration fee, it’s great to see Metro Bank ensuring the customer gets the best possible product when they switch. More lenders are ensuring that intermediaries are recognised for their role in supporting customers choose the best product when they switch, and we hope that others follow suit as soon as possible.”

Metro Bank’s Q3 financial statement confirmed total lending has reached £2,999 million – reflecting quarterly growth of £798 million.

The bank said it expects to become a top 20 UK lender by the end of the year.

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