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Metro Bank to pilot selling mortgages through brokers

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Metro Bank is set to start offering mortgages through intermediary channels as it looks to expand its business in the south east.

The bank, launched in 2010, currently restricts its mortgages to direct sales but will allow brokers in the south east and London access as part of a trial period.

John Charcol will assist the pilot scheme from launch in order to provide a consistent service, with the bank planning to extend availability to more brokers in the coming months.

The lender will offer a range of products up to 80% loan-to-value (LTV) and will offer a simple fees structure to make borrowing simpler for consumers.

All Metro Bank products will be offerred through intermediary channels at the same interest rates as those available direct from branches.

Paul Marriott-Clarke, commercial director at Metro Bank, said:

“Metro Bank is committed to building a long term and highly successful intermediary business that provides both our partners and our customers with amazing customer service.

“With John Charcol’s reputation as a leading intermediary in the high value space, they were the obvious choice to launch with. By partnering with a small number of intermediary partners, we ensure that we are able to give a consistently high level of service to all.

“Metro Bank offers common sense banking with the personal touch and our individual underwriting service means that we will consider cases which would typically fail the automated credit scorecards used by many lenders.”

Walter Avrili, managing director of John Charcol, added:

“We are delighted that Metro Bank has chosen John Charcol to launch its intermediary proposition.

“The addition of such a lender who is focused on unparalleled service and transparent products can only be a good thing for our clients and indeed all UK mortgage borrowers. John Charcol is a business that prides itself on service so the relationship is a perfect fit.”

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