Metro Bank relaunches 85% & 90% LTV mortgages

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Metro Bank has made positive changes to its residential mortgage range.

From today, it has reintroduced 85% and 90% LTV on new five-year fixed rates.

The interest rates will be 2.99% for 85% LTV and 3.29% for 90% LTV, both with a £999 product fee.

However, customers who are either on or have been recently furloughed will not be accepted.

Other criteria include the following:

  • Purchase or pound for pound re-mortgage only
  • Maximum property value of £600,000
  • All loans are subject to a physical valuation
  • Applications for further advances over 80% LTV will not be accepted
  • The product fee can be added to loan.

Charles Morley, director of mortgage distribution at Metro Bank, said: “We’re pleased to reintroduce these higher LTV rates on our five-year fixed rate mortgages. As physical valuations have returned – and our market gradually begins to reopen – we wanted to give greater choice to customers who can afford to borrow more, as well as those that are keen to step onto the housing ladder for the first time.”

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