Connect with us

Finance

Metro Bank Upgrades Portfolio Buy-to-Let Range

Metro Bank's New Digital Account Opening for Businesses Takes just 15 Minutes to Set Up

Reduces rates on its 3-Year and 5-Year Fixed by up to 30bps and by up to 25bps on its 65% LTV and 75% LTV Trackers

  • Launches new 5-Year Fixed from 3.59%
  • Applications assessed on a cross collateralised basis
  • Rewards existing customers with new fee-free products
  • Rental stress from 125% at 5.5% for limited companies and LLPs

Metro Bank, the revolution in British banking, has today unveiled a suite of changes to its Portfolio Buy-to-Let (PBTL) range, geared towards supporting the growing number of professional landlords.

Rates across its core range have been reduced by up to 30bps, with prices now starting from 3.09%.

CORE RANGE

Portfolio Buy to Let – 65% LTV

Product Current Reduction New Fee
2 Year Tracker Rate 3.24%
(‡Base rate
+ 2.99%)
0.15% 3.09%
(‡Base rate
+ 2.84%)
1.50%
5 Year Tracker Rate 3.24%
(‡Base rate
+ 2.99%)
0.15% 3.09%
(‡Base rate
+ 2.84%)
1.50%
3 Year Fixed Rate 3.59% 0.20% 3.39% 1.50%
5 Year Fixed Rate 3.99% 0.30% 3.69% 1.50%
5 Year Fixed Rate New New 3.59% 2.00%

CORE RANGE

Portfolio Buy to Let – 75% LTV

Product Current Reduction New Fee
2 Year Tracker Rate 3.54%
(‡Base rate
+ 3.29%)
0.25% 3.29%
(‡Base Rate + 3.04%)
1.50%
5 Year Tracker Rate 3.54%
(‡Base rate
+ 3.29%)
0.25% 3.29%
(‡Base Rate + 3.04%)
1.50%
3 Year Fixed Rate 3.79% 0.20% 3.59% 1.50%
5 Year Fixed Rate 4.19% 0.30% 3.89% 1.50%
5 Year Fixed Rate New New 3.79% 2.00%

For existing customers looking to switch to a new deal, the lender has introduced a range of new fee-free products, as well as offering reduced product fees across its core range.

LTV Product New Rate Fee
65% 2 Year Tracker Rate 3.09% 0.50%
65% 5 Year Tracker Rate 3.09% 0.50%
65% 3 Year Fixed Rate 3.39% 0.50%
65% 5 Year Fixed Rate 3.69% 0.50%
65% 5 Year Fixed Rate 3.59% 0.75%
65% 2 Year Tracker Rate 3.34% Nil
65% 5 Year Tracker Rate 3.19% Nil
65% 3 Year Fixed Rate 3.54% Nil
65% 5 Year Fixed Rate 3.79% Nil
75% 2 Year Tracker Rate 3.29% 0.50%
75% 5 Year Tracker Rate 3.29% 0.50%
75% 3 Year Fixed Rate 3.59% 0.50%
75% 5 Year Fixed Rate 3.89% 0.50%
75% 5 Year Fixed Rate 3.79% 0.75%
75% 2 Year Tracker Rate 3.54% Nil
75% 5 Year Tracker Rate 3.39% Nil
75% 3 Year Fixed Rate 3.74% Nil
75% 5 Year Fixed Rate 3.99% Nil

Mark Stokes, Managing Director Commercial Banking at Metro Bank said: “We’re absolutely committed to supporting the growing number of professional landlords, while also rewarding loyalty. Today’s announcement is just the first of a series of initiatives that we hope will help our customers grow and develop their portfolio.”

Exclusively designed for professional landlords, the bank’s Portfolio BTL range allows limited companies, limited liability partnerships and professional individual investors, with up to 25 properties assessed on a cross collateralised basis, to choose from a number of product options specifically designed for their needs. For limited companies and LLPs, the rental calculation of 125% at 5.5% applies or 2% over the pay rate, whichever is higher.

The bank’s commercial property team is made up of a team of experienced specialists able to support customers across mortgages, finance and day-to-day banking. Committed to offering the best in service and convenience to its customers, PBTL customers benefit from a dedicated relationship manager and all applications are underwritten on an individual basis to ensure that customers’ personal circumstances are taken into account. What’s more, Metro Bank does not sell bank assurance or insurance, allowing it to focus entirely on fulfilling customers’ mortgage needs.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Text Translator

Awards Ceremony

Click on the Image to view the Magazine

GBM Magazine cover


Global Brands Magazine is a leading brands magazine providing opinions and news related to various brands across the world. The company is head quartered in the United Kingdom. A fully autonomous branding magazine, Global Brands Magazine represents an astute source of information from across industries. The magazine provides the reader with up- to date news, reviews, opinions and polls on leading brands across the globe.


Copyright - Global Brands Publications Limited © 2024. Global Brands Publications is not responsible for the content of external sites.

Translate »