Mortgages without the mumbo jumbo

Residential mortgages

First-time buyer, climbing the ladder, or close to retirement? Helping someone to buy, or investing in your second home? We listen to what you need. In fact, our mortgages are as individual as our most individual individuals.

Your home may be repossessed if you don’t keep up repayments on your mortgage.

Our current Residential Mortgage rates

Download our PDF of rates to read when you like - they contain all the ins and outs of our Residential Mortgages.

Residential Mortgage Details - New Customer (PDF)(213KB)

Residential Mortgage Details - Existing Customers (PDF)(105KB)

First time buyer?

We lend up to 95% loan-to-value – perfect for our first-time buyers

Buying a new build?

We lend up to 90% loan-to-value on both houses and flats.

Less-than-perfect credit?

Mortgages designed for customers with CCJs, arrears or missed payments

Ready to re-mortgage?

A range of cost-effective packages with free valuations and legal assistance

Second or holiday home?

Our mortgages allow you to rent your property on Airbnb for up to 90 days a year

Retiring soon?

We consider customers up to 80 years old, basing the mortgage term on the oldest customer

Helping a family member or friend to buy?

Our Joint Borrower, Sole Proprietor mortgage allows family members or friends to help with affordability

Recently qualified professional

If you qualified in an eligible profession in the last 10 years, we could lend you more with our Professional mortgages.

Speak to us about your mortgage

Mortgages summary

We’re up front with our customers about everything. Here’s a handy summary of all the details of our residential mortgages.

Mortgage option

Fixed-rate mortgages have an interest rate that’s set for a fixed period of time. Your payment will stay the same during this time.

Our current residential mortgage rates

Download our rates for new and existing customers:

Residential Mortgage Details - New Customer (PDF)(213KB)

Residential Mortgage Details - Existing Customers (PDF)(105KB)

Repayment types

A mortgage is made up of two parts:

Capital – the money you borrow
Interest – the charge made by the lender on the money you owe

Repayment mortgage – you pay back the capital and the interest together in your monthly payment. Over the course of the mortgage your balance will get smaller and your mortgage will be paid in full by the end of the term – usually 25 years. This is the most common type of mortgage.

Interest only – you start by paying back the interest on the mortgage on a monthly basis, but at the end of the term you need to repay the whole of the capital in one payment. If you opt for this kind of mortgage we'll need to know how you intend to pay off the capital at the end. It could be that you are paying in regularly to savings and investments and it could include a pension payout.

Part repayment and part interest only – this option is a mix of both, so at the end of the term you'll have paid off some, but not all of the capital and you'll still need to find a way of repaying the remaining balance.

Eligibility

You can apply for a residential mortgage if you are:

aged 18 or over
buying a property in England, Wales or Scotland (selected postcodes)
receiving an income

Our wide mortgage range

Our mortgages are designed to be practical and flexible.

Loans up to 95% of your purchase price or property value
Interest-only mortgages up to 80% of your purchase price or property value considered
Re-mortgage package available, which includes a choice of free standard valuation and either Legal Assist or cashback
Large loans up to £10 million considered by arrangement.

Your one point of contact

During our mortgage process you’ll have one point of contact from start to finish.

Our underwriters consider your individual personal circumstances. That means we can take a sensible approach if you’re self-employed, a contractor, or if there’s another reason you might have difficulty getting a mortgage. The key is that we won’t lend more than you can comfortably repay.

We pay the fees for your re-mortgage

We offer re-mortgage options that can cover most or all of the legal and valuation fees. For example, if you want a re-mortgage of £200,000 on a property that’s valued at £300,000, we’ll cover the cost of your valuation and assist with your legal fees.

Legal assistance

We can appoint a reliable solicitor for you from our panel. They handle the legal process, and we handle their fees.
In some unusual cases there are things we don’t cover – such as unusual search fees, change of name on title, transfer of equity and first registration of title.

We hand-pick the solicitors on our panel. However if you’d prefer to use a different solicitor you’ll need to cover the fees yourself. (We don’t cover independent legal advice either.)

You can get legal assist for properties up to £2 million.

Free valuation for remortgage only products

For properties up to £2 million, we cover the cost of the basic valuation.

Unencumbered Properties

Our mortgage offers are available for unencumbered properties with a minimum loan size of £150,000, maximum property value of £2m.

Download information on all fees

Mortgage Tariff Details (PDF) (175KB)

FAQs

How much can I borrow?

During the mortgage application process we will look at things like your income and expenditure. We want to make sure your mortgage is affordable and that you can keep up repayments.

How much deposit do I need?

It varies depending on which mortgage you have. Deposits start from a minimum of 5% of the purchase price. You’ll need at least 25% if you want an interest-only mortgage.

Do you offer any government scheme mortgages like Help to Buy and Right to Buy?

No, we don’t offer any of these schemes at the moment.

Do you offer guarantor mortgages?

No, we don’t. But we can look at joint borrower/sole proprietor applications. This means the property’s deeds will be in the name of the occupier, but another person’s income – a parent’s for example – can be taken into account as part of the application.

What documents do I need to bring to my mortgage meeting?

We’ll need evidence of your income such as payslips, SA302s and company accounts. Bank statements are no longer required for standard residential applications unless requested by exception. All joint borrower/sole proprietor and BTL applications require 3 months bank statements. We’ll also verify your ID if you aren’t already a Metro Bank customer. Visit your local store to book an appointment, or call us on 0345 08 08 500.

I need a mortgage that might have to extend into my retirement. Can you help me?

Come and talk to us. We take look at every mortgage application on its own merits. It is at the underwriter’s discretion as to whether they would allow a mortgage term to extend past either the maximum working age or anticipated retirement age - whichever is lower.

Now that I can rent out my property for up to 90 days through companies such as Airbnb, is there anything I need to be aware of?

Yes. We just ask that if you decide to rent your property out, then you seek prior approval from your building and contents insurance providers and if your property is leasehold then you make sure that your freeholder is also in agreement.