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Metro Bank announces customer retention proposition

10th November 2015

Metro Bank, the revolution in UK banking, is delighted to announce a number of initiatives designed to reward customers who choose to stay with Metro Bank when they come to switching mortgage products.

Metro Bank has always championed existing customers but its new Mortgage Retention Proposition goes the extra mile to offer a number of market-leading benefits for customers switching to other Metro Bank mortgages.

As part of its commitment to offering excellent levels of customer service, returning Metro Bank customers will benefit from:

  • Same great rates available to new and existing customers
  • Existing customers save £500 on product transfers
  • Customers can switch Metro Bank products up to three months early
  • Further Advances also available at the same great rates offered to new customers
  • What’s more, brokers also stand to benefit as Metro Bank will be paying procuration fees for products taken out via its world-class online portal.

Charles Morley, Head of Mortgage Distribution, Metro Bank commented: “Metro Bank has always championed existing customers and our new proposition combines the amazing service we are known for with fair and simple products. These initiatives represent the latest milestone in our journey and reinforce our commitment to offering customers the very best in service and convenience.”

Jeremy Duncombe, L&G Mortgage Club commented: “Following on from Metro Bank’s Intermediary Switching Portal, which incorporates a procuration fee, it’s great to see Metro Bank ensuring the customer gets the best possible product when they switch. More lenders are ensuring that intermediaries are recognised for their role in supporting customers choose the best product when they switch, and we hope that others follow suit as soon as possible.”

Today’s announcement follows the recent release of Metro Bank’s Q3 financial statement showing total lending has reached £2,999 million – reflecting quarterly growth of £798 million. It is also hot on the heels of a number of high profile announcements including the recent launch of an innovative new intermediary website and a series of senior hires within the team. Metro Bank expects to become a top 20 UK lender by the end of the year.