Metro Bank has reduced rates by up to 0.50% across its residential, near prime and buy-to-let (BTL) ranges, while also re-entering the 80% loan-to-value (LTV) buy-to-let market.
The new pricing is effective from today, Friday 14th November.
The lender said the updated products form part of its efforts to stay responsive to broker and borrower needs.
Across residential lending, Metro Bank has applied rate reductions of between 0.2% and 0.3% on all 2-year products for both new and existing customers moving home.
For large loans over £1m at up to 85% LTV, 2-year products have been reduced by 0.1% to 0.2%.
The lender has also introduced a new 5-year product at 80% LTV, priced at 4.99%.
In its near prime range, Metro Bank has reduced rates by up to 0.5% for customers with less-than-perfect credit profiles.
Buy-to-let rates have been cut by between 0.1% and 0.3% across 2-year and 5-year fixes for individual landlords, houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) borrowers, and limited companies.
The lender’s re-entry into the 80% LTV buy-to-let market forms part of these changes.
Charles Morley, director of mortgage distribution at Metro Bank, said: “As a specialist lender we work hard to ensure our products continue to meet the needs of both brokers and borrowers, whether that’s through our pricing, our market leading criteria or focus on customer service.”
