Metro Bank has made changes across its BTL lending criteria.
The lender’s affordability stress rates for BTL will now be at the product interest rate when a five-year fixed-rate option is selected, or for remortgage applications where there is no additional capital raising required.
In addition, the firm has increased the maximum number of properties a customer can mortgage with Metro Bank to 10 (up to a maximum aggregate mortgage debt of £10m), and has revised its ICR.
Charles Morley, director of mortgage distribution at Metro Bank, commented: “Today’s changes take us even closer towards our goal of being the number one specialist lender on the high street.
“From speaking to our broker network, we know that these changes will be welcomed and we trust that this will also be felt by home owners and property investors across the country.”
