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
CHANGES TO LEGAL FEE ASSIST
We just wanted to let you know we will be making changes to our legal fee assist options. From close of play today, Thursday 23 June, our new criteria will be as follows:
Accepted criteria
- Covers remortgages (BTL or residential) for freehold or leasehold properties up to a property value of £2M.
- For an additional fee, the following cases can be completed:
- Capital raise for onward purchase (excluding Let to Buy)
- Capital raise for all other reasons (for example home improvements)
Outside criteria
- Independent legal advice (for joint borrower/sole proprietor applications)
- Clearing additional charges registered with the property
- Clearing debts on completion if conditioned on the offer and fee assist firm required to control closure
- First registration of title
- AST’s over 12 months long
- Listed properties
- Transfer of equity (TOE)
- Let to Buy
- Mining or additional searches
- Change of names on title
- Dealing with independent solicitors
- 2nd charge repayment
For full information on our legal fees assists, please refer to page 10 on the Residential Mortgage Range guide or page 3 on the Buy to let Mortgage Range guide