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
ENHANCED BTL STRESS RATES WITH REDUCED PRICING ACROSS BOTH RESIDENTIAL AND BTL RANGES
We have listened to your feedback and made several enhancements to our buy to let offering to help you help more customers, as well as reduced pricing across all Residential and Buy to Let Ranges.
Register for our 15 minute webinars focusing on how these changes can help your customers with their mortgage needs:
Metro Bank Talks… Buy to Let – Register now
Metro Bank Talks… Affordability – Register now
So what’s new?
Buy to Let
- Enhanced stress rates, including Top Slicing:
- 2 year fixed – 140% @ pay rate + 2%
- 5 year fixed & pound-for-pound remortgages – 140% @ pay rate + 0.5%
- Use of Earned Income (Top Slicing) – 100% @ product selected, as above
- Visit our updated Rental Criteria Guide for full details.
Our Buy to Let calculator has been updated in line with these enhancements – use our Buy to Let calculator to find out how much your customer could borrow.
- Dual product options available in order to support you and your customers. Rates now starting from:
- 2 year – 4.79% with a 4% fee or 5.79%, with a £1,999 fee
- 5 year – 4.99% with a 4% fee or 5.49%, with a £1,999 fee
Residential
- Rates reduced between 0.3% – 0.7% across New and Existing Customer Ranges:
For full details on the points above, please refer to our Mortgage Lending Criteria Guide and Product Guides. Download our updated Packaging Checklist.