Metro Bank has reduced the maximum LTV to 80% for all residential mortgages in light of the coronavirus outbreak.
The reason given is for the bank to undertake digital valuations which best align to the latest government advice.
Metro Bank has worked closely with their panel manager Legal & General Surveying Services to put in place a process to support valuations via a digital solution.
A Metro Bank spokesperson said: “We’ve made some changes to our residential mortgage range and reduced our maximum LTV to 80% for residential mortgages with immediate effect.
“This enables us to undertake digital valuations which best align to the latest government advice.”