Metro Bank has relaunched 95% loan-to-value (LTV) residential products and made significant rate reductions across its buy-to-let (BTL) and residential product ranges.
The 95% LTV products are available for purchase only and start from 5.99% for 2-years and 5.79% for 5-years.
Additionally, in its residential range, Metro Bank’s 2-year fixed rates now start from 4.99% at 80% LTV, while its 5-year fixed rates now start from 4.79% at 80% LTV.
The lender’s BTL 2-year fixes now start from 3.99% at 65% LTV (with 5% fee), and 5-year fixes now start from 4.59% at 65% LTV (with a 5% fee).
The bank also removed its 5.5% minimum stress rate requirement on 5-year fixed rate products and all pound-for-pound remortgages and will now stress at pay rate +0.5%.
Charles Morley, director of mortgage distribution at Metro Bank, said: “Affordability is often the biggest barrier to taking that first or next step onto the property ladder.
“I hope that by introducing these changes today we can help bring homeownership dreams a little closer to reality.”
