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
For use by FCA Authorised Intermediaries only
We’ve Super Charged Affordability
More borrowing power means more opportunities to place applications – we’ve strengthened affordability across our residential mortgage range.
What’s changed?
- Enhanced income multiples for professionals – Eligible professional clients can now borrow up to 6x income.
- Improved access to higher income multiples on Core Range – We’ve unlocked 5x income from £70,000.
- Updated cost of living assessment – Affordability that reflects real life.
- Lower stress rate on 2-year fixed products – improving affordability and potential loan sizes.
Alongside these affordability enhancements, we’ve also updated our minimum leasehold criteria. Minimum lease now 85 years at application (new build properties require 125 years).
For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.