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Metro Bank cuts residential mortgage rates

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  • 08/06/2017
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Metro Bank cuts residential mortgage rates
Metro Bank has cut rates across its five-year fixed residential range.

Highlights from the refreshed range, for mortgages under £2m, include a rate of 1.74% available up to 65% loan-to-value (LTV), 1.84% available up to 70% LTV and for borrowers with a 25% deposit, a rate of 2.04% is available.

Rate cuts of 10 basis points have also been made to the bank’s two and three-year fixed rates at 85% LTV.

Charles Morley (pictured), director of mortgage distribution at Metro Bank, said: “Given the widespread uncertainty at the moment, we want to provide our customers with rates that will not only benefit their pocket, but will give them peace of mind for the long term.”

Earlier this month, Metro Bank spent almost £600m to acquire a package of UK mortgages from US investment firm Cerberus.

The deal, for £596.7m, will see the challenger bank pick up a portfolio that consists of 92% buy-to-let mortgages, with the remainder owner-occupied.

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