Metro Bank launches 2.29% five-year fix for mortgages up to £1.5 million
Metro Bank is offering a competitively priced 2.29% five-year fixed rate mortgage.
After the fixed period the mortgage will revert to the lender’s standard variable rate, which is currently 4%. The overall cost for comparison is 3.7% APR.
Aaron Strutt, product manager at Trinity Financial, says: “Even though some lender's have been raising their rates recently, there are still some great mortgages available. If you are looking to lock into a longer term fixed rate, then it’s worth double checking that you are getting one of the most competitively priced rates.”
In order to qualify for Metro’s rate, borrowers will need a 40% deposit and there is a competitively priced £999 arrangement fee. The maximum loan size is £1.5 million.
Up to 20% of the initial amount borrowed can be overpaid each year and early repayment charges apply for the full five years.
For help to secure a five-year fixed rate mortgage call Trinity on 020 7016 0790.
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