Feature of the Week

Vulnerable Customer Support

At Metro Bank, we are all about providing unparalleled levels of service and convenience to you and your customers; this also means identifying and supporting when customers are vulnerable or are at the risk of becoming vulnerable.

We have a dedicated Vulnerable Customer section on our intermediary website to help you understand how to identify customers with characteristics of vulnerability and a Mortgage Payment Support page which your customer can visit if they are worried about their finances.

What to do when identifying a vulnerable customer

If the customer is happy to discuss and has given their permission, please ensure you record that the customer is vulnerable within the notes section of the mortgage application form, along with any supporting information.

Our Mortgage Admin Team will give the customer a call back during onboarding to confirm the additional support that we are able to provide.

Limited Company Buy to Let

Since entering the Limited Company Buy to Let market in July 2024, Metro Bank has been providing support to brokers and landlords. With attractive rates, straightforward criteria, and a focus on specialist lending, we’re here to support you and your customers every step of the way.

Limited Company Buy to Let highlights

• Maximum 75% LTV, fees can be added without affecting loan to value or interest coverage calculations
• 125% of the mortgage interest amount calculated at our standard Buy to Let stress rates
• Broad solicitor panel
• Minor personal credit blips considered; not accepted against the named limited company
• Up to four Directors/Shareholders – must be the same people and have 100% shareholding
• No minimum income but at least one Director must be earning an income (other than rental)
• Portfolio landlords – maximum of 10 properties all of which can be with Metro Bank
• Purchase from personal name acceptable, a great solution for Let to Buys – lending will be based on the lower of Valuation and Purchase Price in these scenarios
• Limited Company must be non-trading and must be limited to solely holding residential property and not engaged in wider activities (must be an SPV)
• Intercompany loans can be considered where shareholders and directors are the same

Use our Buy to Let calculator to find out how much your customer could borrow.

For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.