Metro Bank increases residential and buy-to-let rates

Metro Bank is increasing the rates on its residential and buy-to-let mortgage ranges as of today (10th August).

In addition Metro is also increasing the fees on some products and introducing a 1% product fee for its buy-to-let products.

For residential products prices increase across Metro’s core, large loans, remortgage only, near prime and professional ranges.

The product fee also increases to £1,999 across the core, large loans, remortgage only, near prime and professional ranges and can be added to the total mortgage amount.

There is no change to its large loans product fee.

On the buy-to-let front Metro is increasing pricing across the range. It is also increasing its 5-year fixed stress rate to 5.5% at 140% of the mortgage interest amount. 

The lender has advised intermediaries that any cases for borrowers looking to secure the current products must be at the application submitted status and fully packaged by 5.30pm on Wednesday 10th August 2022.

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