Metro Bank has introduced rate reductions of 0.4 percentage points on its 90% LTV five-year fixed rate mortgages.

For customers looking for a new mortgage, the reduced rate is now 3.59%, whilst those looking to remortgage will see a reduced rate of 3.64%.

Charles Morley, director of mortgage distribution at Metro Bank, said: “Right now there are plenty of borrowers with smaller deposits looking for a mortgage. Metro Bank is proud to continue to support these customers, as they move to a new home or look to jump on the housing ladder for the first time.

“We have really exciting plans to improve our specialist mortgages range in 2021 and the new products that you’ll see will be as individual as our customers are.”