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Metro harmonises larger loan structures and rejigs rates

by: Mortgage Solutions
  • 07/06/2018
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Metro harmonises larger loan structures and rejigs rates
Metro Bank has streamlined its rates for loans of between £2 to £10m and made a series of rate changes.

 

The bank has reintroduced a number of new loan to values (LTV) with rates starting from 1.94%. It has also increased rates by up to 5bps across its two and three-year fixed ranges.

All changes to the residential core range are mirrored across the professional residential and remortgage ranges.

Rates on the bank’s two and five-year residential trackers have also been reduced by up to 35 bps, with rates now starting from 1.84%.

Martin Reynolds, CEO of SimplyBiz Mortgages added: “Metro Bank has always been recognised for its excellent service and over the last 12 months its criteria enhancements have improved this further. Their growth within our distribution during the last 12 months of Metro will only continue with these enhancements.”

Rates on the two and three-year fixed have increased by 10bps.

The bank has also launched a new 60% LTV in its buy-to-let range with rates now available from 2.39% and increased rates by up to 10bps.

Charles Morley, director mortgage distribution at Metro Bank, said: “Today’s changes provide brokers and customers with even more choice and flexibility.”

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