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Metro Bank cuts five-year fixes by up to 0.30%

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Metro Bank has cut its five-year fixed residential range rates by up to 0.30 per cent.

The cuts apply to loans between 60 per cent and 85 per cent LTV.

Metro Bank says the cuts mean its range is now the cheapest in its history.

The lender now has rates of 1.99 per cent on its 60 per cent and 65 per cent LTV loans.

The rest of Metro Bank’s refreshed five-year fixed range is as follows:

  • 70 per cent LTV at 2.19 per cent
  • 75 per cent LTV at 2.29 per cent
  • 80 per cent LTV at 2.39 per cent
  • 85 per cent LTV at 2.49 per cent

Metro Bank head of mortgage distribution Charles Morley says: “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.”

Legal & General Mortgage Club director Jeremy Duncombe says: “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 its 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.”

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