Metro Bank launches 1.94% five-year fix through Mortgage Intelligence

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Metro Bank has launched two five-year fixed rate loans through Mortgage Intelligence.

Appointed representatives and directly-authorised brokers can get a 1.94 per cent loan for purchase and remortgage up to 70 per cent LTV and with a £1,499 fee.

The lender is also offering a remortgage-only loan at 1.99 per cent with a free standard valuation and free legal help.

Mortgage Intelligence managing director Sally Laker (pictured) says: “In the current low rate environment customers are increasingly looking to the future and considering the benefits of fixing for a longer period of time.”

Metro Bank director of mortgage distribution Charles Morley says: “We’re delighted to have reduced rates across our three-year and five-year fixed rate residential range by up to 15bps, helping those customers looking for a longer-term solution.”