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 reduces Buy to Let minimum loan size to £50,000
We’ve further strengthened our buy to let proposition by lowering our minimum loan size to £50,000 for all new business applications across personal, limited company, HMO and MUFB lending.
Buy to Let highlights
- Maximum 80% LTV for personal and limited company applications
- Adverse credit history – Directors who have previous defaults/CCJ’s and missed payments.
- Limited Company Buy to Let – ICR calculated @ 125% of mortgage interest, broad solicitor panel.
- HMO/MUFB – available up to 75% LTV for both personal names and Limited Company. Maximum 6 tenants for HMO, 6 units for MUFB.
- Top slicing from earned income to support personal BTL applications, this does not include HMO & MUFB.
- Maximum age 85 (term based on the oldest applicants age).
For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.