Feature of the Week

Case Scenario: University Student JBSP at 100% LTV

With many families exploring the costs of university life, some parents are looking beyond renting and considering longer-term housing solutions. Here's an example of the type of customer our >95% LTV JBSP proposition could support.

Customer 

• Sarah, an 18-year-old student preparing to start university
• Accepted onto a degree course with strong future earning potential
• Looking to purchase a property close to their university rather than rent accommodation
• No deposit available and no current income to support mortgage affordability

Scenario 

• Parents want to support their daughter's purchase while she completes her studies
• Both parents are homeowners and have a combined income of £85,000
• Property purchase price £250,000

Solution 

• Up to 100% LTV available with no minimum deposit requirement
• Affordability assessed using the parents' income as supporting borrowers
• Property owned solely by the student under a Joint Borrower Sole Proprietor arrangement
• Capital repayment mortgage, reducing the balance over time
• Provides a potential route to home ownership while the student completes their studies and establishes their career

All applications are subject to underwriting, lending criteria and affordability assessment. For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.

Your customer’s home may be repossessed if they do not keep up repayments on their mortgage. Lending is subject to meeting Metro Bank’s eligibility criteria. Each borrower is responsible for the full mortgage debt and must obtain independent legal advice to confirm that they understand the nature and consequences of their obligations and that any financial support or contribution connected with the transaction is provided freely, without pressure or undue influence.

Case Scenario: First-Time Buyer JBSP at 100% LTV

Following our recent launch, here’s an example of the type of customer we may be able to help, subject to meeting our lending criteria and affordability requirements.

Customer 

• Two first-time buyers looking to purchase a home for £300,000
• Launched their own business in the last two years, leaving them with limited usable income
• Have invested their savings into the business, so no deposit available

Scenario 

• Parents want to support their daughter and her partner's purchase
• Both parents are 49 years old, are self-employed and own 100% of their limited company
• Parents’ company has generated an average £100,000 profit before tax over the last two years

Solution 

• Affordability assessed using the parents' income alone
• 30-year term available, taking the parents to age 80 at their next birthday
• Helping first-time buyers achieve homeownership while their own business becomes established

All applications are subject to underwriting, lending criteria and affordability assessment. For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.

Your customers home may be repossessed if they do not keep up repayments on their mortgage. Lending is subject to meeting Metro Bank’s eligibility criteria. Each borrower is responsible for the full mortgage debt and must seek independent legal advice. The proprietor must also be satisfied that they are providing any funds of their own free will and have not been pressured or influenced to do so.

Greater than 95% LTV JBSP Mortgage

We’ve expanded our Joint Borrower Sole Proprietor proposition to support customers looking to purchase or remortgage at higher loan-to-value with the support of immediate family members.

Our >95% LTV JBSP Mortgage is designed to help more customers access homeownership, with family support and a clear, carefully managed approach to affordability.

Launch highlights 

• Available up to 100% LTV
• No minimum deposit/equity requirement
• Residential Purchase or £4£ Remortgage
• 5 year fixed rate products
• No valuation or product fee
• Income can be accepted from up to 4 applicants, at 4.45x income multiple, subject to affordability
• Maximum loan size of £675,000
• Joint Borrower must be immediate family only

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