Metro Bank has cut rates on its residential five-year fixed rate mortgages by 20bps.

For residential mortgages under £1.5 million, the new prices will be as follows:

• Five-year fixed rate at 60% LTV, rates available at 2.99%
• Five-year fixed rate at 70% LTV, rates available at 3.19%
• Five-year fixed rate at 80% LTV, rates available at 3.49%
• Five-year fixed rate at 85% LTV, rates available at 3.79%

Metro Bank underwrites mortgage applications on an individual basis to ensure that customers’ personal circumstances are taken into account.

In addition, Metro Bank does not sell bank assurance or insurance, allowing it to focus entirely on servicing the customer.