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Metro Bank launches 85% LTV mortgages

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30/01/2014
Challenger bank Metro has increased its maximum loan-to-value (LTV) to 85% on a range of mortgages.

At 85% LTV, a two-year tracker deal will be available to customers at 3.39%, a two-year fixed rate will be available at 3.49% and a five-year fixed rate mortgage will be available at 4.09%. The products are available for mortgages up to £750,000 and can be accessed directly through Metro Bank’s branches and through brokers.

Richard Saulet, director of mortgages at Metro Bank, said:

“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.”

The bank became the first to offer seven-days-a-week banking when it launched in 2010.

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