It also enhances BTL stress rates
Metro Bank has reduced its pricing across both its residential and buy-to-let product ranges.
The lender’s buy-to-let rates now start at 4.79% with a 4% fee or 5.79% with a £1,999 fee for two-year fixes and at 4.99% with a 4% fee or 5.49% with a £1,999 fee for the five-year option.
For the bank’s residential products, rates were reduced between 30 to 70 basis points across its new and existing customer ranges.
The high street challenger, which secured a £325 million capital raise alongside £600 million of debt refinancing last month, has also announced that it has enhanced its buy-to-let stress rates.
“These product enhancements have been driven by feedback from brokers as they seek to help as many customers as possible to achieve their property goals across both the residential and buy-to-let sectors,” stated Charles Morley (pictured), director of mortgage distribution at Metro Bank.
“We expect a busy end of year moving into 2024, and we’re delighted to roll out these changes today and offer more choice to the market.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, Twitter, and LinkedIn.
