Metro Bank removes rental limits across buy-to-let range
The lender has removed the maximum accepted annual rental limit – previously set at £100,000.
Metro Bank has removed the maximum accepted annual rental limit of £100,000 across its buy-to-let product range.
Metro says the change will bring greater flexibility for customers with higher rental income properties.
As part of the new criteria, common law tenancies where rental is over £100,000 and the term is a maximum period of 12 months are now acceptable.
Other types of common law tenancies, such as letting to a company or the landlord being resident, are not accepted.
Charles Morley, director of mortgage distribution at Metro Bank, commented: “Metro Bank is committed to the buy-to-let market and to being the number one specialist lender on the high street.
"Removing annual rental limits for rented properties means that we can continue to support landlords across the country."
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