10 March 2017
Based on Broker feedback, Metro Bank have made some changes to their lending criteria.
- Downsizing available – Reduction in the minimum property value accepted as a repayment strategy from £2m to £600,000, (please contact the broker helpdesk for full details).
- Interest only - Increased to maximum of 75% LTV (applies for Residential and BTL).
- Bonus, overtime and commission - 100% of bonus, overtime and commission now averaged over the last 2 years.
- Metro Bank no longer require bank statements as ‘standard’ on mortgage applications (*Note: there may still be specific reasons where our Underwriters may wish to see bank statements but this will be by exception rather than the norm. ** Please also ensure you maintain bank statements on file as per your networks requirements).
Check out their lending criteria on their website here.