Metro Bank reduces rates on fixed residential range
By Jordan WilliamsMetro Bank has reduced rates across its two-, three- and five-year fixed residential range, as well as its two- and five-year tracker products
Section: Products
Rates on its two- and three-year, fixed-rate products have been reduced by up to 20 basis point (bps) and are now available from 1.89%.
Two- and five-year tracker products up to 85% LTV have also been cut by 10bps, with rates starting from 1.84% with the five-year tracker benefiting from a three-year early repayment charge.
Charles Morley, director of mortgage distribution at Metro Bank, said: “We’re here to show our broker partners and customers that we mean business.
“With increasing uncertainty about a potential rate rise, we want to give people peace of mind by providing competitive rates, alongside the flexibility to overpay by up to 20% per year.”
For residential mortgages under £2m, the new Metro rates are now available from:
- five-year fixed up to 65% LTV: 1.69%
- five-year fixed up to 70% LTV: 1.79%
- five-year fixed up to 75% LTV: 1.84%
- five-year fixed up to 80% LTV: 1.99%
- five-year fixed up to 85% LTV: 2.09%
- five-year fixed up to 90% LTV: 2.64%
Keywords: Metro bank, residential mortgages, fixed rate products, homebuyers, interest rates, Charles Morley, financial services, early repayment charges, tracker products, specialist mortgages, challenger bank, specialist bank