Metro Bank cuts residential and buy-to-let rates by up to 0.40%

Metro Bank has reduced rates by up to 40bps across its residential and buy-to-let ranges, including near prime and large loan residential products.

In its residential range for existing and new customers moving home, all two-year products have reduced by 0.40% and remortgages are now available up to 95% LTV.

For existing and new customers requiring a large loan (over £1mn), two-year rates are also down by 0.40% with an LTV of 85% or less. 

For customers with a less than perfect credit profile, Metro’s near prime rates have reduced by up to 0.30% for new and existing customers.

In its core buy-to-let range, rates are down by up to 0.40% for existing or new personal and limited company borrowers.

Metro announced last month that it has increased its income multiples to lend up to 6x income for eligible customers.

Charles Morley, director of mortgage distribution at Metro Bank, commented: “As a specialist lender we’re constantly assessing the competitiveness and criteria of our product range, across both our residential and buy-to-let ranges. Today’s reprice is just one way we aim to meet the needs of brokers and borrowers, alongside our industry leading criteria and customer service.”