METRO Launches adverse credit products to 80% LTV

Metro Bank has expanded its product range further and launched a near prime residential range for customers with a “less than perfect credit profile or a low credit score, offering greater flexibility for those that may be struggling to get a mortgage elsewhere.

Please find attached our mailer detailing the Near Prime product and  “what credit profile we accept” which can be shared with your advisers, partners, members and internal teams,

Near Prime highlights

  • Lower credit score requirement
  • Loans available from £50,000 – £500,000 for purchase and re mortgage
  • Maximum LTV of 80%
  • 2 & 5 fixed rates starting from 3.79%
  • Capital and interest repayment only
  • Capital raising, including debt consolidation accepted – new Debt Consolidation Form required for debt consolidation applications
  • Joint borrower, sole proprietor – only where the additional borrower(s) is a close family relative
  • Maximum age 80 (mortgage term based on the oldest applicant)
  • Up to 4 applicants on the mortgage can be considered

We are really excited to launch into Near Prime and look forward to promoting across the intermediary market in the coming days.

15 minute webinar – Metro Bank talks… Contractors and IR35 – Register your place now

(For FCA authorised intermediaries only)

Adverse Credit Details

 

NEW NEAR PRIME RESIDENTIAL MORTGAGES
Metro Bank has expanded its product range further and launched a near prime residential range for customers with a less than perfect credit profile or a low credit score, offering greater flexibility for those that may be struggling to get a mortgage elsewhere.

Near Prime highlights

Lower credit score requirement

Loans available from £50,000 – £500,000 for purchase and re mortgage

Maximum LTV of 80%

2 & 5 fixed rates starting from 3.79%

Capital and interest repayment only

Capital raising, including debt consolidation accepted – new Debt Consolidation Form required for debt consolidation applications

Joint borrower, sole proprietor – only where the additional borrower(s) is a close family relative

Maximum age 80 (mortgage term based on the oldest applicant)

Up to 4 applicants on the mortgage can be considered

All cases are subject to full assessment and a credit score pass. For full details on the points above and our full near prime lending criteria, please visit our Feature of the Week or refer to our Lending Criteria Guide and Product Guides.
Got a case to discuss?

Get in touch with your local BDM; they would love to hear from you.
Find your nearest BDM
Or call our Broker helpdesk on 020 3427 1019.

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