Metro Bank has today launched its first Limited Company Buy-to-Let product as part of its continued focus on becoming a leading specialist lender.

The bank’s new products offer a maximum LTV of 75% with current rates starting at 3.99%.

The mortgage interest amount is calculated at the same rate of 125% as for the lender’s standard buy to let stress rates.

To qualify the company must be non-trading and limited to solely holding residential property and not engaged in wider activities, i.e. it must be an SPV.

Up to four directors and shareholders are accepted and no minimum income is required. However at least one director must be earning an income other than rental.

The maximum age permissible for an applicant is 85.

Metro Bank director of mortgage distribution Charles Morley says: “Launching a Limited Company Buy-to-Let product has been on our agenda for some time and we’re really excited for it to go live today as we continue our journey to becoming the number one specialist lender on the high street.

“Owning a property portfolio within a Limited Company rather than as an individual can bring a number of benefits. While Limited Company Buy-to-Let is already an established market, we see the potential for it to grow even further.”

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