First-time Buyers
Metro Bank relaunches mortgages for borrowers with a 10% deposit
Guest Author:
Lana ClementsThe lender is offering a fixed mortgage up to 90% of the property’s value
Metro Bank has dipped its toe back into high loan to value (LTV) lending with the launch of a new five-year fix for borrowers with a 10 per cent deposit.
The lender is offering 3.99 per cent fixed for five years with a £999 fee for new purchases.
Remortgages are also available but at a higher rate of 4.24 per cent.
Applications for further advances over 80 per cent LTV will not be accepted, and Metro is also declining customers who are on or have recently been furloughed.
Jeremy Cook, head of corporate relationships mortgages at Metro Bank, said: “We’re pleased to reintroduce our five-year fixed rate mortgages at 90 per cent LTV.
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“There are lots of customers with smaller deposits looking for a mortgage at the moment, and we’re thrilled to support them as they seek to get on the housing ladder or move home.”