Metro Bank has reduced rates by up to 50bps across its residential, near prime and buy-to-let ranges. As part of these changes the lender is also re-entering the 80% LTV buy-to-let market.
In the Bank's residential range, all two-year products for existing and new customers moving home are reducing by between 0.20% and 0.30%.
For existing and new customers requiring a large loan (over £1 million), two-year products with an LTV of 85% or less have reduced by up to 0.20%.
Metro Bank is also introducing an 80% LTV five-year fixed rate priced at 4.99% for both these products.
For new and existing customers with a less than perfect credit profile, rates on Metro's near prime range have decreased by up to 0.50%.
Rates have also been cut across Metro Bank’s two and five-year fixed individual buy-to-let, HMO/MUFB and limited company buy-to-let products by up to 0.30%
Charles Morley, director of mortgage distribution at Metro Bank, commented: “As a specialist lender we work hard to ensure our products continue to meet the needs of both brokers and borrowers, whether that’s through our pricing, our market leading criteria or focus on customer service.”
