Metro Bank: Five-year fixed rate mortgage 2.54% at 90% LTV with a £999 fee
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Metro Bank: Five-year fixed rate mortgage 2.54% at 90% LTV with a £999 fee

Editor 7
Editor
Found 27th Oct
Hey, looking for a mortgage at 90% LTV and want to fix for five-years?

Metro Bank has reduced its rates, making it a top player in the 90% market.

You can fix for five years at 2.54% with a £999 fee.

I found one comparable deal out there – Co-op Bank has a five-year fix at 90% LTV at 2.49% but it comes with a £1,499 fee.

To work out the best deal for you the same rules as normal apply: Add together five years (x60) of mortgage payments plus the arrangement fee, then compare the total against other products.

metrobankonline.co.uk/glo…pdf

7 Comments

For 90% LTV, this sounds very good indeed.

This is good but not quite as good as Atom bank who are 2.45% @90% LTV and £1095 fees

I just remortgaged with atom, got 2.39% for 5 years with no fee but I did have 85% LTV. Was very painless tbh.

I did get charged some fees, but they related to buying out the government share of my property not the mortgage itself.

Does anyone know what happens after the 5 years, when it is time to remortgage, in terms of the new home value vs what equity has been paid already? So let's say I bought home at £165K. Paid off £40K for the 5 years Fixed term. Is the new remortgage gonna be based on the left equity of £125K? Or does it take into account that the house may have increased in value during the 5 years and interest costs? Sorry for the ignorance, but I am unclear on this and could not find a straightforward answer on the web.

Yorkshire Building Society - 5 year fixed - 85% LTV - 2.12% - £995 fee - I have been there customer for nearly 5 years, brilliant service.

ybs.co.uk/mor…475

I'm remortgaging with Santander. 1.94% and no fees on 75%LTV. Also 1% cash back on the 123 account which makes it even better.

Original Poster Editor

radzy27th Oct

Does anyone know what happens after the 5 years, when it is time to …Does anyone know what happens after the 5 years, when it is time to remortgage, in terms of the new home value vs what equity has been paid already? So let's say I bought home at £165K. Paid off £40K for the 5 years Fixed term. Is the new remortgage gonna be based on the left equity of £125K? Or does it take into account that the house may have increased in value during the 5 years and interest costs? Sorry for the ignorance, but I am unclear on this and could not find a straightforward answer on the web.


Hey... It takes account of the property's new value. So if your house is worth £200k in five years time and you owe £125k you're new loan-to-value (LTV) will be 62.5% and you'll be eligible for mortgage deals up to that maximum (although in reality the LTV bands tend to be 60%, 70%, 80% etc). The lower the LTV, the better the mortgage deal you can get. Hope that helps.
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