Metro Bank offering limited company and professional landlord mortgages

by Aaron Strutt

Aug 23 2013

Metro Bank has launched two mortgages targeting landlords with up to 25 properties in their portfolio.

Borrowers can refinance up to ten properties with the bank to a maximum exposure limit of £2.5 million.

The new two-year tracker rate is 4.89% and the five-year fix is slightly more expensive at 5.25%. To qualify for these mortgages the rental calculation of 125% at 5.5% must be met.

Aaron Strutt, product manager at Trinity Financial, says: “These mortgages are designed for landlords typically relying on the rental income generated from their properties.

“Investors will be able to overpay up to 10% of the outstanding balance each year and the mortgage can be taken on interest-only for up to ten years. The products are also available to trading businesses and special purpose vehicle limited companies.”

If you are a landlord looking for help to refinance your portfolio or to purchase a new property, call Trinity on 020 7016 0790.