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Metro Bank increases LTV limits
We have made some enhancements to our residential maximum loan sizes, providing your customers with greater flexibility and choice.
So, what’s new?
Please note - New Builds are still restricted to maximum loans of £1m at 85% LTV and £675k at 90% LTV.
For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.
Cracking the Code: A Complex Income Solution
Did you know that at Metro Bank we have a range of straightforward solutions for what can be regarded as complex income?
Please note – our broker helpdesk will be closing at 3pm on Tuesday 5 March for training purposes.
Meet Simone & Duncan
Simone and Duncan sought a new family home. Simone is a limited company Director and owns two thriving businesses where she draws minimal dividends. Simone also has a SIPP which she doesn’t currently draw from. Duncan is employed full time and receives a large annual bonus.
And how we can help…
By applying our flexible criteria to Simone & Duncan’s circumstances, we were able to use the profit before tax, plus Directors remuneration averaged over the last two years in full, for both businesses. As she is 56 and has £255,000 invested in her SIPP we were also able to use 5% of this as income, even though she is not currently drawing from it. We also used 60% of Duncan’s bonus by using the total showing on the P60 minus the basic salary.
We were able to help Simone and Duncan buy their family home, using incomes that many other lenders would not use or not use in full.
Criteria highlights
For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.
Joint Borrower, Sole Proprietor enhancements
We have made some enhancements to our popular Joint Borrower, Sole Proprietor offering:
So, what’s new?
Further Residential Core Range JBSP highlights
For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.
Our BDM Team are here and available to help with new case queries. Please get in touch with your BDM or call our Broker helpdesk on 0203 427 1019.
Helpdesk opening hours:
Monday to Wednesday & Friday, 9am to 5.30pm
Thursday, 10am to 5.30pm
Saturday & Sunday, closed
For use by FCA Authorised Intermediaries only.