"These improvements to our range of new build residential mortgages, alongside increasing max LTVs for capital raising purposes, ensure that we’re providing greater value, flexibility and choice"
The specialist lender has increased its maximum LTV for new build properties from 85% to 90%. The changes are available on both new build houses and flats, with no restrictions on maximum storey height for the latter.
At 90% LTV, rates start from 2.99% and a maximum loan size of £675,000 applies, with offers valid for nine months.
The Bank has also returned to its pre-Covid position of allowing capital raising for both further advances and remortgages at up to 90% LTV, which was temporarily limited to 80% LTV.
Charles Morley, director of mortgage distribution at Metro Bank, commented: “We’re always eager to offer added value for our growing number of customers. These improvements to our range of new build residential mortgages, alongside increasing max LTVs for capital raising purposes, ensure that we’re providing greater value, flexibility and choice to both intermediaries and our customers.”
