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TODAY'S OTHER NEWS

Metro Bank lowers rates across all ranges

Metro Bank has announced a variety of changes to its residential fixed, buy-to-let (BTL) and large loan product ranges.

Rate reductions by up to 40 basis points (bps) have been announced for BTL mortgages under £2 million.

Meanwhile, for mortgages under £2 million, the bank’s five-year fixed residential mortgages up to 90% LTV have been reduced by 10 bps to 2.54%.

Rates for residential two and three-year fixed mortgages have slightly increased, while the residential five-year fixed at 65% and 70% have been withdrawn – rates now start from 1.84% at 75% LTV.

Large loan ranges also have reduced rates by up to 30 bps, with application fees cut from £4,999 to £1,999.

Charles Morley, director mortgage distribution at Metro Bank, said: “We’re here to support everyone, whether you’re a first-time buyer looking to get your foot onto the property ladder through our joint-borrower sole-proprietor mortgages; a landlord wishing to benefit from our use of top-slicing; or a customer needing a choice when it comes to obtaining a larger loan.”

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