Metro Bank grows residential mortgage lending

Metro Bank, the revolutionary High Street bank, has announced huge growth in its residential mortgage lending in the last year. The bank, which last week announced its Q4 financial statement, increased its residential mortgage lending by more than 400% over the course of 2013. Earlier this month, Metro Bank announced that it was looking to double mortgage lending over 2014, to reflect the growing needs of existing and new customers and broker partners.
 
The bank is committed to offering the best in service and convenience to customers and broker partners, and as such underwrites all applications on an individual basis to ensure that personal circumstances are always taken into account. New customers will also benefit from one single point of contact throughout the application process.
 
Metro Bank is also today launching a new range of 85% Loan to Value (LTV) residential products for properties valued up to £750k. At 85% LTV, a 2 year Tracker will be available to customers at 3.39%, a 2 year Fixed Rate will be available at 3.49% and a 5 year Fixed Rate mortgage will be available at 4.09%. The products are available to customers direct and through brokers.
 
Richard Saulet, Director of Mortgages at Metro Bank commented: “At Metro Bank our customers and their needs always come first.  Extending our mortgage range to 85% LTV is something that will make a difference to our customers, and it demonstrates our ongoing commitment to help people with lower deposits buy their own homes.  After a year of huge growth in our residential mortgage lending, the new products, combined with our ability to underwrite on a case by case basis, will ensure that we can continue to provide the best in service and convenience to our customers and broker partners.”  
 
All Metro Bank residential mortgage products offer free legal and valuation fees up to a maximum property value of £1.5 million for re-mortgages. In addition, Metro Bank does not sell bank assurance or insurance, allowing it to focus entirely on servicing the customer.