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Metro Bank ups max LTV to 90 per cent; Leeds BS adds high LTV deals – round-up

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  • 30/03/2023
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Metro Bank ups max LTV to 90 per cent; Leeds BS adds high LTV deals – round-up
Metro Bank has increased the maximum loan to value (LTV) to 90 per cent and cut rates across its ranges.

The changes come into effect from 30 March.

The maximum 90 per cent LTV is available across is core and professional ranges for new customers, with rates beginning from 4.54 per cent.

Rates for new business in its core, professional and large loan ranges have been cut with rates starting from 3.99 per cent.

Charles Morley, director of mortgage distribution at Metro Bank, said: “I’m delighted to announce these pricing and product enhancements and I hope that these changes, against today’s economic backdrop, will help bring the homeownership dream a bit closer for many.

“At Metro Bank we are committed to supporting people as well as seeking to bolster market confidence and the resilience of the sector.”

 

Leeds Building Society adds two 95 per cent LTV deals

Leeds Building Society has added two high LTV deals with two-year fixed terms, with fee-free and fee-paying options.

The two-year fixed rate at 95 per cent LTV with no fee is 5.57 per cent and its two-year fixed rate with a £999 completion fee is 5.37 per cent.

They are available for purchase only and come with a free standard valuation.

Jonathan Thompson, senior mortgage manager at Leeds Building Society, said it “consistently” saw strong demand for higher LTV deals and this transitional product was “probably the first type of mortgage many potential first-time buyers might consider”.

He continued: “After helping 18,000 first-time buyers last year, we remain focused on supporting this group to deliver on our purpose of putting home ownership within reach for more people.

“In the current rising rate environment, fixed rate mortgages remain popular across all LTVs. For that reason, the society also has introduced a new lower LTV two-year fix – at 4.62 per cent up to 65 per cent LTV, with no completion fee – for home purchase or remortgage.”

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