MFB launches B2L with Metro

Sam Cordon

June 20, 2013

The mortgage is aimed at professional investors with more complex requirements, the products are a 2 year tracker at 4.89% and a 5-year fixed at 5.25% to 65% loan to value. Both products carry a rent to interest calculation of 125% at 5.5%.

David Whittaker, managing director of Mortgages for Business, said: “We’re delighted with this exclusive.

“These products work particularly well for landlords with 10-25 properties looking to borrow larger amounts for purchases and remortgages in London and the South East.

“We all know that prices for prime property in this region remain strong and these rates will help landlords realise investment ambitions here.

“Investors will be attracted to the capital overpayment facility of up to 10% each year and the interest-only option of up to 10 years. The products are also available trading businesses and SPV limited companies.”

Richard Saulet, director of mortgages and commercial delivery at Metro Bank, said: “Metro Bank prides itself on offering its customers the very best in service and convenience.

“We are always looking for new ways to support our customers and believe there is plenty of room for more lenders to offer mortgages suited to professional residential investors.

“When designing these products, we talked in depth to the team at Mortgages for Business and we’re very pleased to working in partnership with them to offer these new products.”

Sign up to our daily email