This will apply to all new business applications across personal, limited company, house in multiple occupation (HMO) and multi-unit freehold block (MUFB) lending.
The change comes after Metro Bank announced it would be re-entering the 80% loan-to-value (LTV) BTL market, along with rate reductions across its residential and BTL products. This year, the bank also launched into HMO and MUFB lending.
Charles Morley, director of mortgages distribution at Metro Bank, said: “We’re pleased to announce the reduction of our minimum BTL loan size to £50,000. This announcement reflects our ongoing commitment to strengthening our mortgage offering and we remain dedicated to supporting borrowers with flexible, accessible finance solutions.
“This change also reflects regional variations in average property prices, to enable prospective landlords across the country increased opportunities to invest.”
