Metro Bank enhances BTL range

Metro Bank has made changes across its BTL mortgage range.

The bank has upped the maximum LTV for BTL purchase and remortgage products to 80% LTV, also available for new build houses and flats.

Facilities arranged at 80% LTV include a £1,999 arrangement fee, with loan size limited to £500,000.

The lender also lowered rates across its five-year fixed products, with prices now starting from 2.29% (previously 2.79%).

In addition, the bank has decreased its five-year fixed stress rate to 3.5% (from 4%) for loans up to 75% LTV.

Lastly, it announced that proof of income is no longer required for self-funding BTLs.

Metro Bank’s BTL range has no minimum income requirements, a maximum applicant age of 85 upon completion of the loan and allows up to four unrelated applicants on each BTL mortgage application.

Charles Morley, director of mortgage distribution at Metro Bank, said: “In a competitive market, it’s important that customers and intermediaries have plenty of options available for their individual requirements. 

“We’re confident that these enhancements to our BTL range, along with our ongoing push into more specialist mortgages, make Metro Bank an attractive option for an ever wider breadth of mortgage customer.”

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