Metro Bank has reduced the minimum loan size for buy-to-let (BTL) from £100,000 to £50,000.
The changes apply to all new business applications for personal loans, limited liability companies, multi-occupancy properties and loans for multi-unit buildings on freehold land.
Charles Morley, mortgage distribution director at Metro Bank, said: “We are pleased to announce the reduction of our minimum BTL loan size to £50,000. This announcement reflects our continued commitment to strengthening our mortgage offering and we remain committed to supporting borrowers with flexible, accessible financial solutions.”
“This change also reflects regional variations in average property prices, providing prospective landlords across the country with more opportunities to invest.”
The changes follow Metro Bank’s announcement last month that it is re-entering the 80% LTV BTL market and cutting rates across residential and BTL ranges.