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
JOINT BORROWER, SOLE PROPRIETOR ENHANCEMENTS
We have made some enhancements to our popular Joint Borrower, Sole Proprietor offering:
So, what’s new?
Joint borrowers (non-proprietors) now permitted to reside in the subject property (residential only)
Joint borrower can now gift a deposit and reside in the subject property – updated Gifted Deposit Form to be use
Non-relatives are accepted as joint borrowers
Further Residential Core Range JBSP highlights
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)