Existing residential mortgage customers at Metro Bank will no longer have to pay product fees when completing either a residential rate switch or further advance on loans up to £2m.
The fees have been scrapped following direct feedback from intermediary partners.
Charles Morley, director of mortgage distribution at Metro Bank, said: “We want a relationship for the long-term with both our customers and broker partners, not just a short-term fling.
“That’s why we’ve abolished fees for existing residential mortgage customers. What’s more, not only can customers choose to switch up to three months early without incurring an early repayment charge, but with our mortgage switching portal it only takes a matter of minutes to change products, whether you’re a broker or a customer.”