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Metro Bank plans HNW expansion

  • 21/06/2017
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Metro Bank plans HNW expansion
Metro Bank is planning to grow its lending in the high net worth (HNW) mortgage space this year.

The challenger bank has been praised for its appetite to advance loans ranging from £6m to £8m without insisting the client takes further products with the bank, a practice typically undertaken by private banks.

To support its operation, Metro has hired Justin Minien, formerly of Coutts private bank, as a business development manager.

Charles Morley (pictured), director mortgage distribution at Metro Bank, said: “We look forward to continuing to expand this area of our mortgage business over the coming year, by further increasing the size of the team and innovating to provide borrowers and brokers with the very best experience.”

Morley said the bank’s experienced HNW team coupled with its lack of legacy systems and a straightforward approach had enabled it to gear its products and services to customers’ and brokers’ needs.

He added: “The ability to assess cases on an individual basis and deliver bespoke solutions quickly and accurately has proved incredibly successful in the HNW market.

“We offer a tailored service for loans over £1.5m, with our front-end intermediary team and underwriting division working closely with the broker community.”

Last year, Metro Bank’s gross mortgage lending rose 67% to £2bn according to the Council of Mortgage Lender’s 2016 lender league table. It ranked as the 16th largest lender on volume, climbing three places on last year.

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