Metro Bank has cut rates on its five-year fixed rate residential mortgages.
The new prices are as follows:
- Five-year fixed rate up to 65% LTV, rates available at 1.99%
- Five-year fixed rate up to 70% LTV, rates available at 2.19%
- Five-year fixed rate up to 75% LTV, rates available at 2.29%
- Five-year fixed rate up to 80% LTV, rates available at 2.39%
- Five-year fixed rate up to 85% LTV, rates available at 2.49%
Charles Morley, head of mortgage distribution at Metro Bank, said: “We’re delighted to announce a reduction across our Five-year fixed rate mortgage range, benefitting those customers looking for a longer term mortgage solution. Our market leading rates will provide first time buyers, homeowners on their lender’s SVR and those whose deal is coming to an end, with not just a potential great saving, but piece of mind for the future.”
Jeremy Duncombe, director of Legal & General Mortgage Club, added: “Following the UK’s decision to leave the EU, we’re pleased to see that the mortgage market remains buoyant, with Metro Bank’s announcement a clear reflection of a sector that’s open for business.
“The challenger bank continues to drive their proposition with competitive pricing, a robust manual underwriting process and a desire to build long-term customer relationship and we look forward to seeing more customer-focused products and services from the lender in the months to come.”