Best Metro mortgage deals
Whether you're an existing customer or a first-time buyer, compare the best mortgage interest rates from Metro Bank with our comparison tool below. To see what rate you could be offered, create a free Tembo recommendation.
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Get a Mortgage In Principle
When you create a Tembo recommendation, you'll get a free, downloadable Mortgage In Principle for each of the schemes you could qualify for.
Already have a Metro mortgage?
Create your own free, personalised recommendation to see the best way for you to remortgage, including if you should stay with Metro or change to another provider.
What type of mortgages does Metro Bank offer?
Metro Bank offers a decent range of mortgages, including new build mortgages, bad credit mortgages, retirement mortgages and guarantor schemes like an Income Boost as well as 95% mortgages for buyers with smaller deposits. On top of this, they also offer fixed-rate and tracker mortgages for first-time buyers, home movers, remortgagers and buy-to-let customers.
As with any provider, whether Metro Bank is the best mortgage lender for you depends on your affordability and unique circumstances, what mortgage products you're eligible for, and what the market is currently like. An expert mortgage broker like Tembo can help you navigate these factors to ensure you get the best mortgage deal for you.
How much could I borrow from Metro Bank?
Like most mortgage lenders, Metro Bank offers a range of mortgage products with different eligibility criteria. How much you could borrow for a mortgage depends on which products you're eligible for, your household income and deposit, and other factors like your credit score, employment type, and outgoings. But typically you can borrow between 4-4.5 times your income, although some applicants may be able to borrow more than this.
By creating a free Tembo recommendation, you can see what you could be offered for a mortgage by Metro and other providers without applying.
Can I make overpayments on a Metro mortgage?
Yes, you can make overpayments on a Metro mortgage, but restrictions may apply. If you have a residential mortgage, you can overpay by 20% of your outstanding loan balance per year. If you're a Buy to Let customer, you can overpay by up to 10%. Anything above the allotted amount could see you being hit by an Early Repayment Charge (ERC).
Metro Bank is seen as an alternative to some of the bigger, more traditional lenders. Although they do offer some niche schemes like Joint Borrower Sole Proprietor mortgages, as well as options for those with poor credit.
Andy Shead
Senior Mortgage Advisor at Tembo
Are Metro Bank a good lender?
Metro Bank was set up as an alternative to more traditional lenders and has made a name for itself for having a more relaxed approach to lending - especially towards those with a less-than-perfect credit score. However, in comparison to other lenders like Skipton, they have an average customer score, with a low 2.0 out of 5 on Trustpilot from almost 5,000 reviews. Although they won Best Mortgage Provider at the Money Age Mortgage Awards 2022, most of their other awards are in the credit card categories.
Does Metro Bank offer guarantor mortgages?
Yes, Metro Bank does offer guarantor mortgages but only in the form of their Joint Borrower Sole Proprietor (Income Boost) mortgage. It can be difficult to know which lenders offer guarantor mortgages and which one is best for you and your family as this depends on your unique affordability and what schemes you're eligible for. Working with a mortgage broker like Tembo who specialises in family-assisted mortgages can help you navigate lenders' different eligibility criteria and find the best deal for you from across the market.
Looking for a new mortgage?
First home
Unsure which mortgage deal to go for? Buying your first home can be confusing and overwhelming. Get help from the experts.
Remortgage
Coming to the end of your current deal? Remortgage onto a new one with our help. We'll show you whether you should stay with the same lender, or switch.
Moving home
Upsizing to your forever home? Or maybe you're downsizing to something more manageable. Whatever your reason for moving, we can help you find the best deal for you.
Buy to Let
Thinking of becoming a landlord? We can help you discover the best buy to let mortgage deal for you and how you could boost your mortgage affordability.
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Whether it's first-time buyers, home movers or remortgagers - our expert team has been trusted by thousands to make home happen.
The application process
4 simple steps to buying your first home or remortgaging
Make a Tembo plan
Check your eligibility for a range of mortgages and buying schemes, and get a personalised recommendation with interest rates and repayments in under 10-minutes.
Talk to an expert
Book a call with our experts to complete the qualification process, and we’ll cover off any questions you might have about any of the mortgage deals and budget-boosting schemes we advise on.
Apply for your new deal
Next, your dedicated advisor will undertake full affordability checks to prepare the mortgage application. Then we’ll submit it on your behalf!
Make home happen
Your Tembo advisor will be on hand to ensure everything runs smoothly, so you can move onto your new deal as quickly as possible.
