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
Removal of £100,000 Rental Limit
We have removed the maximum accepted annual rental limit of £100,000 across all our buy to let loan sizes. This change will allow greater flexibility for customers with higher rental income properties, ensuring we continue to meet the evolving needs of our customers.
Some things to note…
- Tenancy:
- Common Law Tenancies where rental is over £100,000 and the term is a maximum period of 12 months are now acceptable. Other types of Common Law Tenancies, such as letting to a company or the Landlord being resident, are not accepted.
- All other terms and conditions remain unchanged
For full details, please refer to our updated Mortgage Lending Criteria Guide.
If your enquiry is £1m or over, our Large Loan Specialist has the expertise to discuss complex cases and find the right solutions for your customers. Find out more.