Metro Bank have announced a broker update, available below. Contact us to see how we help brokers like you across the UK.
Announcement
REDUCED 90% LTV RESIDENTIAL RATES
Great news! From today, we have reduced our 90% LTV residential range with rates now starting from 3.59%.
Things to note
- Purchase or pound for pound re-mortgage only
- Available on flats & houses
- Maximum property value of £600,000
- All loans are subject to a physical valuations
- Product fee can be added to loan
For lending over 80% LTV, customers on/or have recently been furloughed or had any associated COVID-19 related deductions from their salary/income will not be accepted. For self-employed this includes any SEISS grants received in the last 6 months.
If your customer would like to switch to the new product, you will need to resubmit the application through our online portal which will be assessed as a new application and new supporting documents will be required.
Please note: 90% LTV products may be withdrawn at short notice.
For full details on the points above, please refer to our Mortgage Lending Criteria Guide and Product Guides.