Metro Bank has unveiled a number of initiatives designed to reward customers who choose to stay with Metro Bank when they come to switching mortgage products.

Returning Metro Bank customers will receive the same rates available to new and existing customers, and existing customers can save £500 on product transfers.

Customers can switch Metro Bank products up to three months early, while further advances also available at the same rates offered to new customers.

Metro Bank will be also be paying procuration fees for brokers for products taken out via its online portal.

Charles Morley, head of mortgage distribution at Metro Bank, said: “Metro Bank has always championed existing customers and our new proposition combines the amazing service we are known for with fair and simple products.

“These initiatives represent the latest milestone in our journey and reinforce our commitment to offering customers the very best in service and convenience.”

Jeremy Duncombe, director of L&G Mortgage Club, added: “Following on from Metro Bank’s Intermediary Switching Portal, which incorporates a procuration fee, it’s great to see Metro Bank ensuring the customer gets the best possible product when they switch.

“More lenders are ensuring that intermediaries are recognised for their role in supporting customers choose the best product when they switch, and we hope that others follow suit as soon as possible.”