Metro Bank refreshes buy-to-let range
Metro Bank has refreshed its buy-to-let range with rate cuts of up to 0.30%.
The lender’s portfolio buy-to-let products to 75% loan-to-value now cost 3.29% for both 2 and 5-year trackers, 3.59% for a 3-year fix and 3.89% for a 5-year fix, all with a 1.50% fee.
Its 65% LTV range meanwhile offers a 2 and 5-year tracker at 3.09%, a 3-year fix at 3.39% and a 5-year fix at 3.69%, again with a 1.50% fee.
The products are available for both individual investors and those using a limited company, while applicants are expected to already own a property.
Mark Stokes, managing director commercial banking at Metro Bank, said: “Today’s announcement is just the first of a series of initiatives that we hope will help our customers grow and develop their portfolio.
“Exclusively designed for professional landlords, the bank’s portfolio buy-to-let range allows limited companies, limited liability partnerships and professional individual investors, with up to 25 properties assessed on a cross collateralised basis, to choose from a number of product options specifically designed for their needs.
“For limited companies and LLPs, the rental calculation of 125% at 5.5% applies or 2% over the pay rate, whichever is higher.”