You are here: Home - News -

Metro Bank cuts 90% LTV mortgage rates

by:
  • 26/10/2017
  • 0
Metro Bank cuts 90% LTV mortgage rates
Metro Bank has cut rates across its 90% loan-to-value (LTV) mortgages for residential, buy-to-let (BTL) and large loans.

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residential two- and three-year fixes have marginally increased and the five-year fixes at 65% and 70% LTV have been withdrawn, with rates now starting from 1.84% at 75% LTV.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.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Highest Q3 new home registrations in a decade

Builders registered nearly 38,000 new homes in the UK during the third quarter of 2017 – up 6% on the...

Close