You are here: Home -

Metro Bank chops rates to market-leading low

0
Written by:
20/07/2017
The challenger bank has cut the cost of its two-, three- and five-year deals
Metro Bank chops rates to market-leading low

Metro Bank has reduced interest rates across its fixed and tracker rate mortgages, to record low levels.

The lender has chopped two-, three- and five-year fixed rates as well as its two- and five-year tracker products, on deals up to £2m.

The new five-year fixed rates start at 1.69% for borrowers with a large deposit of 35% of the property’s value or more, and go up to 2.59% for those with a modest 10% upfront.

The lender has also cut its two- and three-year fixes by up to 20 percentage points and they are now available from 1.89%. Two- and five-year trackers start at 1.89% for those with a 15% deposit.

Charles Morley, director of mortgage distribution at Metro Bank said: “With increasing uncertainty about a potential rate rise, we want to give people peace of mind by providing competitive rates, alongside the flexibility to overpay by up to 20% per year.”

Last month Metro Bank also chopped product fees for existing residential mortgage customers switching to a new product. 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Comments are closed.

Your Mortgage Guides

Your Mortgage Award Winners 2021-2022

Read our guide to the best mortgage lenders in the UK

Read More >