For residential mortgages under £2 million, the bank has reduced its five-year fixed rates up to 90% LTV by 10bps to 2.54%.
Rates for residential two and three-year fixes have marginally increased and residential five-year fixes at 65% and 70% LTV have been withdrawn, with rates now starting from 1.84% at 75% LTV.
Metro Bank has also introduced a brand-new large loan range for loans up to £10 million, with residential rates now available from 1.99% for two and three-year fixed rates, and 1.94% for two and five-year trackers up to 50% LTV.
The bank has also reduced rates across its existing large loan products by up to 30bps, with application fees also cut from £4,999 to £1,999.
Rates for buy-to-let mortgages have been reduced by up to 40bps and now start from 2.59% at 65% LTV.
The bank’s new range for BTL loans up to £5 million includes rates from 2.89% for a two-year fixed rate at 60% LTV.
Charles Morley, Director Mortgage Distribution at Metro Bank, said: “Today’s announcement demonstrates the breadth of our mortgage range. We’re here to support everyone, whether you’re a first-time buyer looking to get your foot onto the property ladder through our joint-borrower sole-proprietor mortgages; a landlord wishing to benefit from our use of top-slicing; or a customer needing a choice when it comes to obtaining a larger loan. Our wide range of products, alongside our case-by-case approach to underwriting, is proving a winning combination for customers and brokers across the UK.”
