Feature of the Week

Getting it right first time

At Metro Bank, we understand the importance of “getting it right first time” to ensure the applications you submit are turned around quickly.

We have highlighted below some “top tips” to support you and your customer -

1. ID&V and Certification

Depending on your customers personal circumstances, you will be asked to provide different types of information to verify their name and address at different stages of the application.

Please ensure these are correctly certified and all documents requested are uploaded as missing documents or certification errors could lead to delays.

Identification and certification requirements for a Mortgage Application

2. Lending Criteria

All lenders are different so it’s important to understand our Mortgage Lending Criteria before you submit an application – don’t forget to also call your friendly BDM to talk through the details.

3. Packaging Checklist & Uploading Documents

Before you submit your application, please ensure you complete the pre-submission checklist items. Please see our helpful Packaging Checklist.

Please label documents correctly and upload all checklist items at the same time as you submit the application so our underwriters can see clearly what documents have been provided and fully assess the application.

4. Contacting Underwriting

If you have further information you would like to provide to support the application, you can use the ‘Add a note’ facility. This can be found in the bottom right hand corner of the portal homepage. 

Large Loan Solutions

We recently made some improvements to our large loan solutions for loans above £1m. Our Large Loan Specialist has the expertise to discuss complex cases and find the right solutions for your customers.

So, what’s new?

• Introduction of 85% LTV product range with rates from 5.29% for loans up to £2m
• Maximum loans up to 90% LTV increased from £675k to £1.125m*

*Please note - New Builds are still restricted to maximum loans of £1m at 85% LTV and £675k at 90% LTV.

• Up to 5.5 times their income for all four applicants on the mortgage application now up to 85% LTV allowing customers to borrow more – subject to affordability assessment.

Large Loan highlights?

• No funds under management
• Large acreages and annexes
• Multiple income streams considered

Use our Calculators to find out how much your customer could borrow. For full details on the points above please refer to our Lending Criteria Guide and Product Guides.

Contact our Large Loan Specialist for cases over £1m

Gareth Randall

Senior Large Loan Specialist (cases over £1m)

Telephone: 07814 583069
Email: gareth.randall@metrobank.plc.uk