Metro Bank, founded in July 2010, already has thirteen offices in the UK and is aiming to have two hundred by 2020.
According to Kevin Ward, Head of Business Development at Connect Mortgage Club, Metro Bank is primarily looking for business in London and the South East of England.
Kevin Ward said:
“This is a competitive offering for BTL landlords from Metro with rates from 3.69% at 65% LTV, to 4.09% at 75% LTV and loan sizes up to £5 million, with interest only periods, for people with residential portfolios of up to 6 properties. In contrast to established high street lenders, Metro Bank is keen to promote the value of knowing their customers. They are placing more emphasis on human underwriting expertise rather than technology, which is will be very refreshing for our brokers, who are tired of the total reliance on credit scoring.”
Yvonne Bear, Market Development Director at Metro Bank, commented:
“We are delighted to be working with Connect Mortgage Club. We are keen to build a presence in the BTL market and look forward to building a long lasting relationship with Connect Mortgage Club and its supporting intermediaries.”
