Metro Bank reduces rates across mortgage range

Metro Bank, the revolutionary High Street Bank, has announced a reduction of its mortgage rates across its residential and Buy to Let mortgage range. Prices will be reduced by up to 50bps across its residential range and up to 30bps for its Buy to Let (BTL) products.
 
At 70% LTV, the 2 year Fixed Rate product for residential customers will reduce to 2.49% (from 2.99%), while the 2 year Tracker Rate mortgage price will be set at 2.39%. For BTL customers, the 2 year Fixed Rate product will reduce to 3.19% at 65% LTV. The products are available to customers direct and through brokers.
 
The reduction in prices is part of Metro Bank's wider commitment to further increase lending to personal and business customers. Yesterday's FLS figures showed a 360% increase in lending for the lender since June 2012, against flat industry lending growth over the same period.
 
Richard Saulet, Director of Mortgages at Metro Bank commented: "At Metro Bank our customers and their needs always come first.  The announcement today demonstrates our ongoing commitment to substantially grow our Mortgage business by helping people buy their own homes.  We are delighted to be able to reduce prices for our customers and are confident that this, combined with our ability to underwrite on a case by case basis, will continue to provide an exciting proposition for our customers and broker partners."  
 
Metro Bank is committed to offering the best in service and convenience to its customers. As part of this commitment the bank underwrites all applications on an individual basis to ensure that customers' personal circumstances are always taken into account. New customers will also benefit from one single point of contact throughout the application process.
 
All Metro Bank residential mortgage products offer free legal and valuation fees up to a maximum property value of £1 million for re-mortgages. In addition, Metro Bank does not sell bank assurance or insurance, allowing it to focus entirely on servicing the customer.

For more information, visit metrobankonline.co.uk.