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 our Rate Switching Range & removal of procuration fee cap
With effect from 5.30pm on Wednesday, 23 November 2022 we will be making the following changes:
- Rate Switching Ranges
- Residential – increasing pricing across Core and Large Loan Ranges
- Buy to Let – increasing pricing across Core Range
- Residential – increasing pricing across Core and Large Loan Ranges
So what does this mean?
To secure a Rate Switch product, you will need to produce a mortgage offer and complete the transaction before 5.30pm Wednesday 23 November. Please note we require 10 clear working days before the intended switch date (must be customers payment date) in order to ensure that new rate is applied.
Please note: Any cases that fall outside of these timeframes will not be accepted.
Full details of new pricing will be available on sourcing systems and product guides on the Intermediary website from 8am on Thursday 24 November 2022.