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Metro Bank withdraws all 60, 85 and 90 per cent LTV mortgages

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  • 21/08/2020
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Metro Bank withdraws all 60, 85 and 90 per cent LTV mortgages
Metro Bank is temporarily withdrawing all residential mortgage products at 60 per cent, 85 per cent and 90 per cent loan to value (LTV) at 5:30pm this evening.

 

The lender announced the change in a communication to brokers today.

Lenders across the market have been under significant pressure as a vibrant market additionally fuelled by the stamp duty cut and coupled with workplace coronavirus-related restrictions is limiting capacity.

As a result, many are being forced to withdraw products at short notice or make significant rate increases.

Metro Bank director of mortgage distribution Charles Morley (pictured) told Mortgage Solutions: “These temporary changes will ensure that we keep delivering the high standard of service that we pride ourselves on providing, both for our customers and brokers.”

 

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