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Feature of the Week

Changes to our Interest Only mortgages

With effect from 5.30pm on Monday 18 January 2021, we will be making changes to our current residential range where interest only or part and part has been selected as the repayment option.

So what does this mean?

To make sure your customer secures the current product, the case must be at the application submitted status and fully packaged by 5.30pm on Monday 18 January 2021.

Any cases outside of these timeframes will not be accepted.

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

    The payment holiday scheme is being extended and we are waiting for further guidance from the FCA on how we can best support our customers. We will provide more information as soon as we can. In the meantime, supporting our customers is still our top priority, so we may be able to help in other ways. 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