EXCLUSIVE: Metro to focus on London and SE
Metro extended its intermediary lending area to cover the whole of England and Wales in December, as it previously only catered for brokers in London and the South East.
But Hill, who was at the bank’s Holborn HQ in London for a joint networking event with Regentsmead yesterday, said Metro still covets the valuable markets down South.
He said: “We’ve been lending primarily in the South East and London.
“For the next three or four years we’ve got so much to do down here – then we’ll probably move North.
“Most of the money in Britain drains down here, much more so than in America.
“Wealth drains to one place.”
Hill was asked whether the bank is delivering everything the intermediary sector needs.
He responded: “I don’t know about everything – I’m sure that’s not the case, but we are servicing the intermediary sector in residential lending and commercial lending.”