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Metro Bank have made some exciting criteria changes

10 March 2017

Metrobank

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.


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