Prices will be reduced by up to 50bps across its residential range and up to 30bps for its Buy to Let products.
At 70% LTV, the 2 year Fixed Rate product for residential customers will reduce to 2.49% (from 2.99%), while the 2 year Tracker Rate mortgage price will be set at 2.39%. For BTL customers, the 2 year Fixed Rate product will reduce to 3.19% at 65% LTV. The products are available to customers direct and through brokers.
The reduction in prices is part of Metro Bank's wider commitment to further increase lending to personal and business customers. Yesterday's FLS figures showed a 360% increase in lending for the lender since June 2012, against flat industry lending growth over the same period.
Richard Saulet, Director of Mortgages at Metro Bank commented:
"At Metro Bank our customers and their needs always come first. The announcement today demonstrates our ongoing commitment to substantially grow our Mortgage business by helping people buy their own homes. We are delighted to be able to reduce prices for our customers and are confident that this, combined with our ability to underwrite on a case by case basis, will continue to provide an exciting proposition for our customers and broker partners."
