Metro Bank increases maximum LTV for new builds and capital raising

Metro Bank has increases its maximum LTVs for new build properties and capital raising.

Related topics:  Mortgages
Rozi Jones
8th September 2021
Metro Bank
"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.”

More like this
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.