Metro Bank has announced rate cuts across its BTL product ranges.
Following this change, the lender’s two-year fixed-rates now start from 3.99% at 65% LTV, and its five-year fixes are now priced from 4.59% at 65% LTV — both options come with a 5% fee.
In addition, the bank has removed its 5.5% minimum stress rate requirement on all five-year fixed-rate products and all pound-for-pound remortgages — the lender 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.”
