Come and join us on 6 July and hear 4 AIM CEO’s speak. Brad George, Orosur CEO updates us on Colombia’s Tier-1 gold mine potential, Cliff Gross, CEO at Tekcapital explains how investors benefit from a special dividend. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMetro Bank Share News (MTRO)

Share Price Information for Metro Bank (MTRO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 103.60
Bid: 103.60
Ask: 104.00
Change: -0.40 (-0.38%)
Spread: 0.40 (0.39%)
Open: 106.00
High: 106.00
Low: 102.30
Yest. Close: 104.00
MTRO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

More 5% deposit mortgages unveiled in boost to first-time buyers

Thu, 22nd Apr 2021 11:21

(Alliance News) - More lenders are launching 5% deposit mortgages onto the market in a further boost to first-time buyers.

New deals announced by Metro Bank and Cambridge Building Society are not part of a new UK government-backed mortgage guarantee scheme which was launched this week to increase the availability of 5% deposit loans.

Major lenders including Halifax, HSBC UK, Barclays PLC, NatWest and Santander are taking part in that scheme and unveiled new 5% deposit products earlier this week.

Cambridge Building Society said on Thursday that, from May 5, it will launch deals including a two-year fixed-rate mortgage at 4.0% with a GBP199 application fee and a five-year fixed-rate mortgage at 4.1% with the same fee. The maximum loan for this range is GBP400,000.

Metro Bank is now offering a five-year fixed-rate deal at 3.9% for borrowers looking to get on the housing ladder with a 5% deposit.

The maximum loan size available is GBP570,000.

The bank said it had already been developing its new mortgage when the government mortgage guarantee scheme was announced in the recent budget.

Metro Bank launched into near prime residential mortgages in March, offering flexibility for borrowers who may be struggling to get a mortgage elsewhere.

Charles Morley, director of mortgage distribution at Metro Bank, said: "As one of the only lenders to consistently remain in the higher LTV market throughout the coronavirus pandemic, we've been working hard to launch into 95% LTV residential mortgages.

"Our customers will benefit from a competitive five-year fixed-rate. We've also been making a number of new hires across our mortgages business recently, offering specialist lending expertise as we look to appeal to an ever wider range of mortgage customer."

The number of low deposit mortgages generally available fell dramatically in the early days of the coronavirus crisis as lenders became more concerned about riskier loans and the possibility of house prices falling.

Under the new government scheme, lenders can purchase a government guarantee that would compensate them for a portion of their losses in the event of a repossession.

It mirrors a previous Help to Buy mortgage guarantee scheme, which was launched in 2013 in response to a similar shortage of low-deposit mortgages following the 2008 financial crisis.

source: PA

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News

Sunday newspaper round-up: Covid-19 restrictions, Airline industry, Aviva

(Sharecast News) - Britain will have a six-week window to open up in the summer or risk keeping Covid-19 restrictions in place until the spring, ministers fear. Boris Johnson on Saturday gave his clearest signal yet he is planning to delay a full return to normality for another month, as he said he wanted to give Covid-19 vaccines "extra legs" in "the race between the vaccines in the lockdowns". - Sunday Telegraph

13 Jun 21 11:42

IN BRIEF: Metro Bank seals disposal of car dealer finance portfolio

IN BRIEF: Metro Bank seals disposal of car dealer finance portfolio

10 Jun 21 18:20

BROKER RATINGS: JPMorgan raises Sage to Neutral; MS ups Whitbread

BROKER RATINGS: JPMorgan raises Sage to Neutral; MS ups Whitbread

14 May 21 09:39

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

11 May 21 16:13

Metro Bank sees solid first quarter with improved deposit mix

Metro Bank sees solid first quarter with improved deposit mix

28 Apr 21 11:16

More 5% deposit mortgages unveiled in boost to first-time buyers

More 5% deposit mortgages unveiled in boost to first-time buyers

22 Apr 21 11:21

IN BRIEF: Metro Bank completes acquisition of RateSetter loan book

IN BRIEF: Metro Bank completes acquisition of RateSetter loan book

6 Apr 21 16:06

Wednesday broker round-up

(Sharecast News) - Croda International: Berenberg reiterates buy with a target price of 7,400p.

3 Mar 21 13:05

LONDON MARKET MIDDAY: Pound Puts Pressure On FTSE 100; Mid-Caps Rally

LONDON MARKET MIDDAY: Pound Puts Pressure On FTSE 100; Mid-Caps Rally

24 Feb 21 12:04

SMALL-CAP WINNERS & LOSERS: Travel Stocks Bask In Further Gains

SMALL-CAP WINNERS & LOSERS: Travel Stocks Bask In Further Gains

24 Feb 21 10:44

BROKER RATINGS: Investec Downgrades StanChart To Hold From Buy

BROKER RATINGS: Investec Downgrades StanChart To Hold From Buy

24 Feb 21 09:38

Metro Bank Sees Widened 2020 Loss But Transformation Plan On Track

Metro Bank Sees Widened 2020 Loss But Transformation Plan On Track

24 Feb 21 09:37

Covid-19 weighs heavily as losses widen at Metro Bank

(Sharecast News) - Metro Bank saw losses widen significantly last year, as the Covid-19 pandemic dented income and saw customers default on loans.

24 Feb 21 09:31

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

17 Feb 21 15:57

SMALL-CAP WINNERS & LOSERS: Kerry Rises On Payout, Strategic Review

SMALL-CAP WINNERS & LOSERS: Kerry Rises On Payout, Strategic Review

16 Feb 21 10:50

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.