Metro Bank have announced a broker update, available below. Contact us to see how we help brokers like you across the UK, Alternatively please refer to our Mortgage Lending Criteria Guide and Product Guides.
Announcement
Metro Bank Enhances Policy for Married Couples
Great news! We can now accept sole applications for married couples on all residential purchase and re-mortgage applications.
This includes Joint Borrower/Sole Proprietor where the applicant’s spouse can be the joint borrower, provide a gifted deposit and continue to reside in the property.
Residential Core Range JBSP highlights
Spouses and non-relatives are accepted as joint borrowers
- Joint borrowers now permitted to reside in the subject property
- Joint borrower can now gift a deposit and reside in the subject property – updated Gifted Deposit Form to be used.
- Up to 95% LTV on houses and flats, purchase only (90% LTV for new build)
- Up to four applicants on the mortgage, with a minimum of one applicant on the property deeds
- Income can be accepted from up to 4 applicants, at full income multiples, subject to affordability
- Maximum age 80 considered (mortgage term based on the oldest applicant at the end of the term)
- Repayment, interest only and part and part options available (maximum LTVs apply)
For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.