Metro Bank cuts five-year fixes to boost mortgage growth
At 70% LTV, customers can access a rate of 2.99% while borrowers with a smaller deposit can secure a five-year fixed rate at 3.39% up to 80% LTV and 3.69% up to 85% LTV.
Paul Riseborough, managing director of customer propositions, said the bank is focusing on its next phase of growth for its mortgage proposition.
Metro Bank’s Q3 financial statement showed year-on-year growth in total lending, which includes mortgages, personal loans and business lending, of 146%.
It began using the intermediary channel to distribute its mortgages in 2013 through selected brokers including Tenet Lime and Legal & General.