Metro Bank Buy To Let Mortgages
Metro Buy to Let Mortgages
Fair Mortgages can provide you with a first class remortgage service.
Special features of what we offer include:
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Whole of market service - we cover most UK lenders
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Great rates - Access to leading market rates
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Exclusive deals - Access to exclusive remortgage deals not available on the high street
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Fast turnaround - Call us if you need to move fast!
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Less than perfect credit history? - We have lenders who will take into account previous defaults and missed payments
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Raising additional finance - If you are looking to raise finance we will look at all your finance options as well as remortgaging
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Complex buy to let? More than 5 properties? - Give us a call
To investigate your mortgage options call our specialist team on 0117 403 4474 or fill in our call back form.
Buy to let mortgage market
Before applying for a buy to let mortgage with Metro Bank, it may be beneficial to review the changes to the buy to let mortgage market regulations.
From 2017, lenders will implement a tougher income stress test. Landlords’ income will be scrutinised under the lenders’ test to ensure that landlords can afford mortgage payments in the event that interest rates increase to 5.5%.
The majority of lenders, including Metro Bank, require landlords to provide a rental yield of at least 145% for standard buy to lets and 170% for houses in multiple occupations. In previous years, landlords only needed 125% but most lenders have increased the rental coverage ratio requirement to account for when a landlord’s property is without tenants.
For landlords with multiple properties who wish to apply to Metro Bank for a buy to let mortgage, you may need to explore their portfolio buy to let mortgage. For those who do have multiple properties, it is important to note that most lenders will review a landlord’s property portfolio in full to ensure every property is profitable. This is because lenders can no longer provide buy to let mortgages for landlords with one or more properties that are not profitable.
Why Metro Bank for Buy to Let Mortgages?
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Personal service – one single point of contact through your mortgage process
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Individual case underwriting - to take account of your personal circumstances
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A choice of two fee assisted remortgage options -up to a maximum property value of £1.5 million
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Metro buy to let mortgages are available for loan sizes up to £2m and for customers with a maximum of 15 mortgaged properties in total, of which no more than 10 are mortgaged with Metro
To investigate your buy to let mortgage options, call our specialist team on 0117 403 4474 or fill in our call back form.