"We hope that these changes will go a little way towards easing that strain and ensuring that paperwork doesn’t get in the way of someone taking their first or next step on the property ladder."
- Charles Morley, director of mortgage distribution at Metro Bank
Metro Bank has simplified the policy and document requirements for its residential and buy-to-let mortgage applications.
The enhancements simplify what is required from customers and also potentially widen the number of employed and self-employed borrowers who are eligible for a Metro Bank mortgage.
Metro Bank’s packaging requirements for employed, self-employed and contractor applications have also been simplified.
For self-employed borrowers, Metro has introduced an Accountant’s Certificate for cases under £1 million and has reduced the minimum time trading to two years.
For employed borrowers, there is no longer a minimum time required in their current role. One payslip will be required from the current role and one from the previous role. In addition, the minimum time in employment has reduced to six months for both primary and secondary jobs.
Charles Morley, director of mortgage distribution at Metro Bank, commented: “Purchasing a property is often a stressful process. We hope that these changes will go a little way towards easing that strain and ensuring that paperwork doesn’t get in the way of someone taking their first or next step on the property ladder.”
