Metro Bank has made a notable move by decreasing its rates on the 2-year buy-to-let product range by 0.30%.
- This initiative includes their limited company buy-to-let product, adding a competitive edge to their market presence.
- Fixed rates are now set at 3.69% for loans up to 65% LTV, accompanied by a 5% product fee.
- For loans up to 75% LTV, a 3.89% rate is being offered, also carrying a 5% product fee.
- Metro Bank aims to strengthen its position as a leading specialist lender on the high street.
Metro Bank has undertaken a significant reduction in its 2-year buy-to-let product rates by 0.30%. The update applies to their limited company buy-to-let product as well, which saw its inception in July of this year. This move provides customers with more favourable borrowing options, aiming to potentially increase the bank’s customer base among landlords and property investors.
The bank has adjusted its rates strategically, introducing a 2-year fixed rate available at 3.69% for loans up to 65% loan-to-value (LTV), each accompanied by a 5% product fee. Such adjustments are designed to appeal to smaller buy-to-let investors by reducing their initial financial burden, enabling greater accessibility to Metro Bank’s products.
For those requiring a higher LTV, Metro Bank now offers a 3.89% fixed rate up to 75% LTV, also attached to a 5% product fee. This offer targets a segment of the market seeking higher leverage to maximise potential returns on property investments. By structuring these rates, Metro Bank caters to a wider range of investors, illustrating its commitment to flexibility and support for property financing needs.
Charles Morley, Metro Bank’s director of mortgage distribution, expressed excitement about these changes, highlighting the bank’s dedication to the buy-to-let market. He stated, “Metro Bank is committed to the Buy to Let market and to being the number one specialist lender on the high street.” Morley’s comments reflect Metro Bank’s strategic ambition to enhance their market standing and engage more effectively with brokers and potential clients.
Overall, Metro Bank’s rate reduction is designed to provide competitive options for clients looking to expand their property portfolios or those considering refinancing options. The revised rates emphasize the bank’s focus on remaining a key player in the competitive buy-to-let lending market.
Metro Bank’s rate adjustments signal its strategic commitment to empowering property investors and reinforcing its market position.
