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Metro Bank launches first 90% LTV range

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  • 06/04/2017
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Metro Bank launches first 90% LTV range
Metro Bank has extended its mortgage range to 90% loan to value (LTV) for the first time.

The range of fixed rate mortgages is available to first-time buyers, movers and remortgage customers, for loans up to £500,000 through brokers and branches.

Loans are available on a two, three and five-year basis, with fee (£999) and fee-free versions.

Metro Bank director of mortgage distribution Charles Morley said the bank was particularly targeting first-time buyers with the higher LTV.

“By extending our range into the 90% LTV market, as well as offering this LTV on our joint borrower sole proprietor range, we hope to support the increasingly large number of first-time buyers, as well as those looking for a competitive remortgage deal,” he said.

Andrew Montlake, director at mortgage broker, Coreco added: “This is another welcome shot in the arm for many borrowers who need that little bit of extra help to get onto the property ladder.

“Given how tough it can be to save up for a larger deposit – especially with the current high levels of rent in many areas – we are delighted to see Metro Bank move into this market.”

 

The range at 90% LTV rates include:

  • a two-year fixed available from 2.39%, £999 fee
  • a three-year fixed available from 2.39%, £999 fee
  • a five-year fixed available from 2.74%, £999 fee

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