Metro Bank changes £1.5 million plus mortgage arrangement fees
Metro Bank has made a positive change and introduced a flat arrangement fee for borrowers looking to secure some of its larger mortgages.
The lender previously charged 0.5% of the loan amount if borrowers wanted to riase between £1.5 million and £3 million and this has been lowered to £4,999.
Aaron Strutt, product manager at Trinity Financial, says: "More of the lenders are looking to provide larger mortgages and they often charge 0.5% arrangement fees. Metro’s change reduces the cost of securing a large loan and undercuts a lot of other banks in the market.
"We have placed a lot of our wealthier clients with Metro Bank because they tend to offer more lenient accetance criteria than some of the other bigger banks - they also have some decent rates."
If you would like to secure a large mortgage loan, call Trinity Financial on 020 7016 0790 or complete our enquiry form below.
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