Metro Bank has improved its buy-to-let range by increasing its maximum loan to value (LTV), cut rates for certain products and changed its criteria.
The lender will now offer BTL purchase and remortgage products up to 80 per cent LTV, up from 75 per cent LTV previously.
The stress test rate for five-year fixed rates has also been cut from four per cent to 3.5 per cent for loans up to 75 per cent LTV. Loans above 75 per cent LTV the rate has been kept at 4.5 per cent.
Five-year fixed rates will start from 2.29 per cent, having previously started from 2.79 per cent.
Metro Bank has also removed the proof of income requirement for self-funding buy-to-lets.
The maximum LTV for buy-to-let loans for new build houses and flats now stands at 80 per cent LTV, an increase from 75 per cent LTV.
Charles Morley (pictured), director of mortgage distribution at Metro Bank, said: “In a competitive market, it’s important that customers and intermediaries have plenty of options available for their individual requirements.
“We’re confident that these enhancements to our BTL range, along with our ongoing push into more specialist mortgages, make Metro Bank an attractive option for an ever-wider breadth of mortgage customer.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
