Metro Bank has revised its buy-to-let range with rate cuts of up to 0.3%.
The lender’s buy-to-let products which are available at up to 75% loan to value (LTV) now cost 3.29% for both 2 and 5-year trackers, 3.59% for a 3-year fix and 3.89% for a 5-year fix, with all deals subject to a 1.5% fee.
Metro’s 65% LTV range, which like the 75% LTV deals are available for both individual investors and those using a limited company, offers a 2 and 5-year tracker at 3.09%, a 3-year fix at 3.39% and a 5-year fix at 3.69%, again with a 1.5% fee.
Mark Stokes, managing director commercial banking at Metro Bank, said: “This announcement is just the first of a series of initiatives that we hope will help our customers grow and develop their portfolio.
“Exclusively designed for professional landlords, the bank’s portfolio buy-to-let range allows limited companies, limited liability partnerships and professional individual investors, with up to 25 properties assessed on a cross collateralised basis, to choose from a number of product options specifically designed for their needs.
“For limited companies and LLPs, the rental calculation of 125% at 5.5% applies or 2% over the pay rate, whichever is higher.”