"This is particularly important given today’s economic backdrop of the cost-of-living crisis and rising energy costs."
Metro Bank has announced a series of criteria changes to its residential and buy-to-let mortgage range.
The Bank has reintroduced enhanced income multiples for residential purchase and remortgages, alongside a reduced five-year fixed rate buy-to-let stress rate and the reintroduction of portfolio buy-to-let products.
Across its core residential range, Metro has launched new 60% and 85% LTV products and new three-year fixed rates across all LTVs, along with reduced product fees.
On Metro's large loan range, new 60% LTV products have launched with rates starting from 4.39%, with new three-year fixes also launching across all LTVs.
The professional range will see reduced pricing with a maximum LTV of 85%, alongside reduced product fees.
For buy-to-let, a new 60% LTV product and new two-year fixed rates have been launched and rates and fees have been cut across the range.
Metro has also reintroduced legal-assist remortgage products across its residential, large loan and buy-to-let ranges.
Existing customer residential and buy-to-let products will also see reduced pricing and fees.
Charles Morley, director of mortgage distribution at Metro Bank, commented: “We’re so pleased to unveil these positive changes to our residential and buy-to-let mortgage product range allowing us to help more customers who may be struggling to get a mortgage elsewhere. This is particularly important given today’s economic backdrop of the cost-of-living crisis and rising energy costs. This move further demonstrates our commitment to consumers, market confidence and the resilience of the sector.”
