"I hope that by introducing these changes today we can help bring homeownership dreams a little closer to reality."
- Charles Morley, director of mortgage distribution at Metro Bank
Metro Bank has reintroduced a range of 95% LTV residential products and made significant rate reductions across its residential and buy-to-let product ranges.
95% LTV purchase rates start fro 5.99% fixed for two years and 5.79% fixed for five years.
As part of Metro's residential rate cuts, two-year fixed rates have reduced to 4.99% at 80% LTV with five-year rates down to 4.79%.
In its buy-to-let range two-year fixed rates now start from 3.99% at 65% LTV with a 5% fee, with the five-year equivalent down to 4.59%.
In addition, Metro has removed the 5.5% minimum stress rate requirement on five-year fixed rate products and all pound-for-pound remortgages and will now stress at pay rate +0.5%.
Charles Morley, director of mortgage distribution at Metro Bank, commented: “Affordability is often the biggest barrier to taking that first or next step onto the property ladder. I hope that by introducing these changes today we can help bring homeownership dreams a little closer to reality.”
