Metro Bank has removed the maximum accepted rental limit of £100,000 from its BTL product range.
This change means common law tenancies where rental income is over £100,000 - and the term is a maximum period of 12 months - are now acceptable for the bank.
All other terms and conditions remain unchanged, and other types of common law tenancies - such as letting to a company or a landlord being resident - are not accepted.
Metro Bank has made this change to offer greater flexibility for customers with higher rental income properties.
“Metro Bank is committed to the BTL market and to being the number one specialist lender on the high street,” said Charles Morley, director of mortgage distribution at Metro Bank.
“Removing annual rental limits for rented properties means that we can continue to support landlords across the country.
