Metro Bank scraps fees for current residential customers

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Metro Bank is scrapping fees for existing residential mortgage customers completing either a residential rate switch or further advance on loans up to £2m.

The bank’s previous deal gave existing residential mortgage customers half price fees when transferring to a new product.

The bank says it has made the move following broker feedback.

Metro Bank director of mortgage distribution Charles Morley says: “We want a relationship for the long-term with both our customers and broker partners, not just a short-term fling.

“That’s why we’ve abolished fees for existing residential mortgage customers.”

The bank does not dual price to incentivise new customers.