Metro Bank has made changes to its buy-to-let (BTL) range, including increasing its maximum loan size and broadening its criteria.
The lender will now accept properties with thatched roofs and ex-local authority flats.
Its maximum loan size for its 75 per cent loan to value (LTV) BTL mortgage has increased from £750,000 to £2m.
It follows several changes to its BTL range that it made in November, such as lowering the five-year fixed rate stress rate to 3.5 per cent from four per cent for loans up to 75 per cent LTV.
It also cut the rates on five-year fixes and increased its BTL purchase and remortgage product to 80 per cent LTV.
Charles Morley (pictured), director of mortgage distribution at Metro Bank, said: “Metro Bank offers a compelling range of mortgages for BTL borrowers. In recent months we’ve increased several of our maximum LTVs, reduced rates and also cut the stress test rate we apply on loans up to 75 per cent LTV.
“Alongside the fact that we have no minimum income requirements, a maximum applicant age of 85 upon completion of the loan and allowing up to four unrelated applicants on each BTL mortgage application, we’re seeing significant interest from the market in our BTL offering.”
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.
