Complex Buy To Let
Metro targets professional landlords with rate reductions
Guest Author:
Heather Greig-SmithMetro Bank has reduced rates across its core buy-to-let range for professional landlords.
The lender said the changes were geared towards supporting the growing number of professional landlords. They include reductions on its three-year and five-year fixes and its 65% and 75% loan to value (LTV) trackers.
Prices now start from 3.09% and Metro has also launched a five-year fix from 3.59%.
Existing customers looking to switch to a new deal can also choose from a range of fee-free products.
Mark Stokes, managing director commercial banking at Metro Bank, said: “We’re absolutely committed to supporting the growing number of professional landlords, while also rewarding loyalty. Today’s announcement is just the first of a series of initiatives that we hope will help our customers grow and develop their portfolio.”
The Portfolio buy-to-let (PBTL) range is for limited companies, limited liability partnerships and professional individual investors, with up to 25 properties assessed on a cross collateralised basis. For limited companies and LLPs, the rental calculation of 125% at 5.5% applies or 2% over the pay rate, whichever is higher.
What mortgage and protection advisers should take from the FCA’s AI stance
Sponsored by Sesame Bankhall Group
The move follows rate reductions across Metro’s residential range earlier this year.