Metro Bank has simplified the policy and document requirements for its buy-to-let (BTL) and residential mortgage applications.
The enhancements simplified requirements for customers, with the aim of increasing the number of employed and self-employed who are eligible for a Metro Bank mortgage.
Metro Bank’s packaging requirements for employed, self-employed and contractor applications were also simplified.
For self-employed borrowers, the lender will now accept an accountant’s certificate for cases under £1m and the minimum time trading required was reduced to two years.
For employed borrowers, there will be no minimum time required in current role, with one payslip needed from current role and one from previous role, and the minimum time in employment required will be reduced to six months for both primary and secondary jobs.
Charles Morley, director of mortgage distribution at Metro Bank, said: “Purchasing a property is often a stressful process.
“We hope that these changes will go a little way towards easing that strain and ensuring that paperwork doesn’t get in the way of someone taking their first or next step on the property ladder.”
