Metro Bank, one of the UK’s leading banks, recently announced that they are offering 90% loan-to-value mortgages with reduced rates. This is great news for potential homebuyers who are looking to purchase a property but don’t have a large deposit saved up.
The loan-to-value (LTV) ratio is the amount of money you borrow compared to the value of the property you are buying. For example, if you are buying a house worth £200,000 and you have a 10% deposit saved up, your loan-to-value ratio would be 90%.
Metro Bank’s 90% loan-to-value mortgages come with reduced rates, meaning that borrowers can get a better deal on their mortgage. This could potentially save them thousands of pounds over the course of their mortgage.
The bank also offers other benefits such as no early repayment charges, flexible repayment options, and no arrangement fees. This makes it easier for borrowers to manage their finances and make their mortgage payments.
Metro Bank’s 90% loan-to-value mortgages are a great option for those who don’t have a large deposit saved up but still want to purchase a property. The reduced rates and other benefits make it easier for borrowers to manage their finances and make their mortgage payments.
If you’re looking to purchase a property but don’t have a large deposit saved up, Metro Bank’s 90% loan-to-value mortgages could be the perfect option for you. With reduced rates and other benefits, it could save you thousands of pounds over the course of your mortgage.