Rates have been reduced across five-year fixes ranging from 60% loan-to-value (LTV) to 85% LTV and are available to first-time buyers and existing homeowners. The rates are the lowest Metro Bank has offered for products of its kind since the bank launched.
Metro’s 60% and 65% LTV are now available at rates of 1.99%, a reduction of 0.10% for 60% deals and 0.30% for its 65% LTV products.
The remainder of Metro Bank’s refreshed range is as follows:
- Five-year fixed rate up to 70% LTV, rates available at 2.19%
- Five-year fixed rate up to 75% LTV, rates available at 2.29%
- Five-year fixed rate up to 80% LTV, rates available at 2.39%
- Five-year fixed rate up to 85% LTV, rates available at 2.49%
Charles Morley, head of mortgage distribution at Metro Bank, said: “Our market leading rates will provide first time buyers, homeowners on their lender’s SVR and those whose deal is coming to an end, with not just a potential great saving, but piece of mind for the future.”
Jeremy Duncombe, director, Legal & General Mortgage Club, added: “Following the UK’s decision to leave the EU, we’re pleased to see that the mortgage market remains buoyant, with Metro Bank’s announcement a clear reflection of a sector that’s open for business.
“The challenger bank continues to drive its proposition with competitive pricing, a robust manual underwriting process and a desire to build long-term customer relationship and we look forward to seeing more customer-focused products and services from the lender in the months to come.”
