Metro slashes BTL rates by up to 0.4%

Metro Bank has reduced buy-to-let rates on loans of up to £2m by as much as 0.4%

Rates now start from 2.69% at 75% loan-to-value (LTV) for a two-year fixed rate deal and 2.89% for a five-year fix at 75% LTV.

Buy-to-let loans of between £2m and £3m now start from 2.79% for a two-year fixed rate deal at 70% LTV, while a five-year fix is now 2.99% and a two-year tracker is 2.54%, both also available at 70% LTV.

Metro Bank, which only started accepting consumer buy-to-let mortgage applications in June, has also cut loans across residential mortgages and large loans, as the lender seeks to support a wider range of customers and broker partners.

Charles Morley, director mortgage distribution at Metro Bank, said: “We’re here to support everyone, whether you’re a first-time buyer looking to get your foot onto the property ladder through our joint-borrower sole-proprietor mortgages; a landlord wishing to benefit from our use of top-slicing; or a customer needing a choice when it comes to obtaining a larger loan.”

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