Mortgages  

Metro Bank cuts residential and BTL rates

Metro Bank cuts residential and BTL rates

Metro Bank has reduced its rates across its residential and buy-to-let mortgage ranges, with immedate effect.

For residential mortgages under £1.5m, the new rates will start from 1.99 per cent at 70 per cent loan-to-value for a two-year fixed rate and 2.09 per cent at 85 per cent LTV for a two-year tracker.

Buy-to-let loans, up to £1m, are now available from 2.69 per cent for a two-year fixed rate at 65 per cent LTV.

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Higher value loan rates have also been refreshed, with residential mortgages from £1.5m now starting at 2.09 per cent at 70 per cent LTV for a two-year tracker, while buy to let mortgages from £1m starting at 2.69 per cent at 75 per cent LTV for a two-year tracker.

Paul Riseborough, managing director of customer propositions at Metro Bank, said that during 2014 mortgage lending at the bank more than doubled and it is now looking at the next phase of growth for the mortgage proposition.

“In the next year, we want to continue growing our relationships with customers and brokers, by providing them with the highest levels of service and convenience.”

Brokers can submit applications through the Metro Bank online mortgage portal.

peter.walker@ft.com