Metro Bank allows mortgage customers to rent out home on Airbnb
Metro Bank is enabling its residential mortgage customers to rent their properties through Airbnb, and similar sites, for up to 90 days a year without prior approval.
"Our focus is on making our customers’ lives as straightforward and convenient as possible and we therefore hope today’s news will give our customers the reassurance they need"
The Bank said the decision is a "pioneering move to support the sharing economy".
Paul Riseborough, Chief Commercial Officer at Metro Bank, commented: “At Metro Bank we love what the sharing economy represents and the freedom and collaboration it encourages.
"Our focus is on making our customers’ lives as straightforward and convenient as possible and we therefore hope today’s news will give our customers the reassurance they need to jump in and take advantage of everything the dynamic sharing economy has to offer.”
James McClure, General Manger at UK & Ireland Airbnb, said: “The way people use their homes is changing and this is an exciting step change from one of the UK’s most innovative banks. We hope this triggers further support from the mortgage industry as we work together to provide real economic benefits for people and neighbourhoods.”
The news follows a strong set of Q3 results, which saw lending up 73% year-on-year to £5.2bn and deposits increase to £7.3bn, up 66% compared to 30 September 2015.
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