You are here: Home - News -

Metro Bank adds 85 and 90 per cent LTV mortgages and cuts BTL stress rate

by:
  • 18/02/2021
  • 0
Metro Bank adds 85 and 90 per cent LTV mortgages and cuts BTL stress rate
Metro Bank has introduced two and three-year fixed rate mortgages at 90 per cent loan to value (LTV), while cutting its buy-to-let stress rate on five-year fixes.

 

The new deals for borrowers with 10 per cent deposit or equity are priced from 3.19 per cent and the maximum loan size at this level has also been increased to £675,000 from £540,000.

The lender is also now offering mortgages at 85 per cent LTV with rates starting at 2.89 per cent.  The maximum loan size for these products has been increased to £850,000 from £510,000.

From tomorrow, the bank will also be cutting its stress test rate on five-year buy-to-let mortgages, from 4.5 per cent to four per cent.

Metro Bank said it aimed to become a leading specialist lender and is offering higher LTV products for borrowers when many of its competitors had stepped away from the market.

Charles Morley, director of mortgage distribution at Metro Bank, said: “The higher LTV market has been very active as of late with many lenders stepping back into the fold.

“Metro Bank is proud to have remained in this market throughout, while reducing rates and expanding our product range in recent weeks.

“We’re listening to the needs of both our customers and our intermediary partners, delivering a substantial number of specialist upgrades and continuing to offer a range of products that are as individual as our customers are.”

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
First Direct relaunches 85 per cent LTV range for new business

First Direct has re-introduced two and five-year fixed rate and lifetime tracker mortgages at 85 per cent loan to value...

Close