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Feature of the Week

Reduced 90% and 95% LTV rates and increased maximum loan size

Great news! We have reduced our all 90% and 95% LTV rates by 0.20%, including our recently enhanced Professional Range which now includes high earning customers.

We have also increased our maximum loan size at 95% LTV to £675,000 aligning it to our 90% LTV maximum loan size.

New rates

LTV   Fixed term Rate
90%   2 year 2.99%
  3 year 3.09%
  5 year 3.19%
  Professional 5 year 3.34%
95%   2 year 3.49%
  3 year 3.59%
  5 year 3.69%


Please note: 90% & 95% LTV products may be withdrawn at short notice. For full details, please refer to our Mortgage Lending Criteria Guide and Product Guide.

 

Enhanced self-employed policy

Great news! We have refreshed how we assess self-employed applicants whilst maintaining a common-sense approach.

Self-employed highlights

  • NEW- Profit before taxation plus directors remuneration can now be used. An average is taken over the last 2 years if 100% of shareholders are on the mortgage and sustainability of the business can be confirmed.
  • Salary & Dividends can be used. An average of last 2 years where sustainability can be evidenced.
  • Partnerships/Sole traders – We use a 2 year average of profit from self-employment where sustainability can be evidenced.
  • All businesses must have been trading for a minimum 3 of years.
  • 6 months business bank statements are required on all self-employed cases to confirm the sustainability of the business.
  • Maximum LTV is 95% LTV; 80% where SIESS grants have been taken in the last 6 months.

For full details on the points above or to discuss a potential case, please call your BDM and refer to our  Mortgage Lending Criteria Guide.

Documentation requirements can be found on our packaging guide.

Contact us

Our BDM Team are here and available to help with new and existing case queries, packaging requirements and affordability assessments. Please get in touch with your BDM or call our Broker helpdesk on 0203 427 1019. Find your nearest BDM here

Coronavirus mortgage FAQs

Coronavirus update

Supporting our customers is still our top priority. Click here for more information, or if your customer would like to contact us, they can:

  • Call our Mortgage Servicing team on 0345 319 1200. Our opening hours are 8.30am to 6pm Monday to Friday.
  • Complete this form and one of our specialists will give them a call. We aim to call within seven days.
  • Send us an email to mortgageservicing@metrobank.plc.uk – we will reply as soon as possible. They will need to provide their eight-digit mortgage account number, which starts with a 4 and can be found on any letter they have received from us about their mortgage.
  • Write to us at Mortgage Admin team, Metro Bank Plc, PO Box 1130, Uxbridge UB8 9XX.
Offer extension

In line with the wider industry, Metro Bank will extend all house purchase mortgage offers for residential and buy-to-let customers for up to three months, enabling customers to move at a later date. If your customer requires an offer extension, please contact us in the normal way.

Physical valuations

We are very pleased to announce the immediate recommencement of physical inspections on purchase and re-mortgage cases in England (where access is granted) - our standard lending policy will apply*. These will be carried out in line with Government guidelines.

Where a physical valuation cannot take place, digital valuations will be instructed in line with our previous guidance on properties up to a maximum value of £3 million (limitations apply - please contact us for details).

Due to the undoubted pressure on the surveying community, it is likely that turnaround times on valuations will be impacted, whilst it takes several weeks for things to settle.

*Please refer to our Mortgage Lending Criteria Guide and Product Guides for full details.

For use by FCA Authorised Intermediaries only