Buy-to-let borrowers, Metro Bank has slashed rates on its two-year fixed-rate mortgages by up to 0.30%, making it cheaper to get a loan on a rental property.

This price cut applies to all landlords, including those running limited companies, who can now benefit from Metro Bank’s special products launched in July.

So, how much can you save?

Well, if you’re looking to borrow 65% of your property’s value, you could get a rate as low as 3.69%! If you need to borrow a bit more, say 75%, the rate creeps up slightly to 3.89%. Keep in mind, both options come with a 5% product fee.

Metro Bank is making moves!

This rate cut comes hot on the heels of Metro Bank teaming up with PEXA, a move designed to make remortgaging smoother and faster.

Charles Morley, in charge of mortgages at Metro Bank, reckons these changes are a game-changer. He said: “Metro Bank is committed to being the top dog for landlords on the high street. We can’t wait to see how these changes shake things up and we’re ready to chat with brokers and anyone thinking about expanding their property empire or refinancing.”

What does this mean for you?

This is great news if you’re a landlord or thinking about becoming one. Cheaper rates mean lower monthly payments, putting more cash back in your pocket.