Metro Bank has announced that from April 5 it will expand its mortgage business into Scotland both direct and via brokers.
Scottish homeowners will benefit from the rates and ranges offered to customers in England and Wales, along with the bank’s efficient switching service.
The expansion into the Scottish market will be overseen by Neil McLeod, business development manager for Scotland. Prior to joining Metro Bank in January 2018, McLeod worked at Halifax in the same role. His career began at the Bank of Scotland, where he spent five years in the retail and mortgage business.
Craig Donaldson, chief executive officer at Metro Bank, said: “Since we launched our mortgage business back in 2011, we have had great success supporting borrowers and brokers across both England and Wales.”
“Our wide range of products, alongside a case-by-case approach to underwriting and unrivalled levels of service has proved to be a winning formula and set us apart from other lenders. With our research showing that over half of Scots would consider switching to another lender, I’m excited about entering the Scottish market.”
Research by the bank into the Scottish market found that only 21% of Scottish respondents believe lenders are doing enough to help people get on the housing ladder.
When looking to buy a home, only 18% of consumers would stick to their current bank, while 56% would be keen to shop around.
The bank offers joint-borrower sole-proprietor mortgages – relevant for first-time buyers – to top-slicing for landlords in need of a more flexible approach to assessing income.