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Metrobank - Buy to let
shads1973
Posts: 101 Forumite
Looking at another buy to let, came across this (and being a customer with them for business and personal banking might help)
5 Year Fixed Rate 3.79% Product Fee £1999
Seems potentially a good product?
5 Year Fixed Rate 3.79% Product Fee £1999
Seems potentially a good product?
0
Comments
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That's pretty good for a buy-to-let: a better rate than I got quoted for a 5-year fixed term buying outright (albeit at 87.5% LTV, which isn't great)"You did not pull yourself up by your bootstraps. You were lucky enough to come of age at a time when housing was cheap, welfare was generous, and inflation was high enough to wipe out any debts you acquired. I’m pleased for you, but please stop being so unbearably smug about it."0
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Sorry should have added that was for a LTV up to 75%
Trying to see what's out there for 80 to 85% LTV0 -
80% to 85% on a BTL?Sorry should have added that was for a LTV up to 75%
Trying to see what's out there for 80 to 85% LTV
Not much. You'll be better off speaking to a broker, as I can't think of a direct lender offering anything.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Yes on a BTL. As a 75% BTL product how does Metrobanks product seem?0
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No idea.
I'd have to have the rest of the case details and run a source to see what else comes up.
It would depend on meeting lender criteria - personal income, rental cover, property type etc.
I'd have a broker do it for you if you want a sourcing report to compare like with like.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Ok apologises thought would be easier then that to give some feedback on the product.
Appreciate things change all the time, guess good to have a benchmark to number crunch0 -
Unless you did something similar half an hour ago, it's practically impossible in this job to carry in your head detailed product information.
As a newbuild specialist, I'm more likely to know where to go for a 75% BTL on a newbuild flat than I am to know what the rates are. At the moment, we are getting rates changes every single day.
As a consequence we pay for mortgage sourcing software which is updated twice a day.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Totally appreciate the world changes every day, and the mortgage world every hour.
It just helps with planning to work with some theoretical numbers. Metro's product appears on quite a few best buys and being a customer it was a good starting point to work some figures out. Guess was just sanity checking if the product was realistic of where BTL might be roughly today. As you rightly say each case is unique and needs many factors before knowing whats best for someone.
I'd always use a broker before commiting to a product (as I did by using a broker that posts here a few years back on a BTL).
Any known lenders with favourable rates on 80% upwards?0 -
There are.
You need a broker to access them.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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