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
90% LTV NEW BUILD RESIDENTIAL ON HOUSES AND FLATS
We continue to support the new build market and have made some enhancements to support your customers buying a new build home.
New Build highlights
- NEW – Our residential products are available on New Build properties up to 90% LTV
- 90% LTV rates start from 2.99% and offer a maximum loan size of £675k
- Available on both houses and flats (no maximum story height)
- Offers are valid for nine months
- Valuations on all new build applications will be instructed at the start of the underwriting process
- Builder Incentives accepted up to 5% of the purchase price
- Gifted deposit from an immediate family relative can be accepted
- Available on Joint Borrower, Sole Proprietor
- Income can be accepted from up to 4 applicants
- Maximum age 80 considered (mortgage term based on the oldest applicant)
For full details on the points above, please refer to our Mortgage Lending Criteria Guide and Product Guides.
90% LTV NEW BUILD RESIDENTIAL ON HOUSES AND FLATS & CAPITAL RAISING UP TO 90% LTV
We continue to support the new build market and have made some enhancements to support your customers buy their new build home. We have also revisited our approach to capital raising…
New Build enhancements
- NEW – Our residential products are available at up to 90% LTV
- Available on both New Build houses and flats (no maximum story height)
- Offers are valid for nine months
- IMPORTANT – valuations on all new build cases will be instructed at the start of the underwriting process
- Builder Incentives accepted up to 5% of the purchase price. Builder incentive can include builders deposit contribution, white goods, carpets and curtains, cashback, legal fees and a contribution towards stamp duty
- New Build support team and underwriting specialists who understand the pressures of achieving a quick offer in time for exchange
Capital Raising up to 90% LTV
NEW – we have returned to the pre‑Covid position of allowing capital raising for both Further Advances and Remortgages up to 90% LTV. Please note debt consolidation is limited to 80% LTV
For full details on the points above, please refer to our Mortgage Lending Criteria Guide and Product Guides.