It also launched a large loan range for properties up to £10m and upped rates on residential two- and three-year fixed deals.
For residential mortgages under £2m, the bank has reduced its five-year fixed rate up to 90% LTV by 10 bps to 2.54%.
Rates for residential two- and three-year fixes have marginally increased and the five-year fixes at 65% and 70% LTV have been withdrawn, with rates now starting from 1.84% at 75% LTV.
BTL and large loans
Rates for BTL mortgages under £2m have been reduced by up to 40 bps, with rates starting at 2.59% at 65% LTV and 2.69 at 75% LTV.
The large loan range for loans up to £10m, with rates now available from 1.99% for a two-year fix at 70% LTV.
The bank has also reduced rates across its existing large loan range by up to 30 bps and cut application fees from £4,999 to £1,999.
Metro Bank director mortgage distribution Charles Morley 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.”
