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 Metro Bank BTL Products
CHANGES TO METRO BANK BUY TO LET PRODUCTS
With effect from 5.30pm on Wednesday 27 April 2022, we will be making the following changes to our Buy to Let product range:
- Removing all 70% LTV products from our range
- Repricing our 75% LTV products
- Reviewing the stress rate that is applied for our 5 year fixed products up to and including 75% LTV
So what does this mean?
To make sure your customer secures the current product, the case must be at the application submitted status and fully packaged by 5.30pm on Wednesday 27 April 2022.
BUY TO LET PRODUCT AND CRITERIA UPDATES FROM METRO BANK
At Metro Bank, we continue to review our product ranges to ensure we continue to develop our offering to support the mortgage needs of more customers.
What’s new?
Use our Buy to Let calculator to find out how much your customer could borrow.
For full details on the points above, please refer to our Mortgage Mortgage Lending Criteria Guide and Product Guides.
75% LTV 2 & 5 year fixed products with rates now starting from 3.09% and 2.59% respectively.
5 year fixed stress rate increased to 4% at 140% of the mortgage interest amount up to and including 75% LTV – regardless of their income tax bracket.