Company Overview
Metro Bank is a British retail and commercial bank established in 2010. Known as "the revolution in banking," Metro Bank differentiates itself through exceptional customer service, extended opening hours, and a customer-first approach to banking services.
Key Highlights
- Founded in 2010, first new high street bank in the UK for over 100 years
- Known for exceptional customer service and extended opening hours
- Comprehensive range of personal and business banking services
- Commitment to community banking and local presence
- Digital-first approach with human touch
Metro Bank Difference
Metro Bank operates with a "AMAZING" culture focused on customer service excellence. They offer extended opening hours including weekends, instant debit card issuance, and a commitment to making banking easier for customers.
Mortgage Products
Residential Mortgages
- Fixed-rate mortgages (2, 3, 5, and 10-year terms)
- Variable rate mortgages
- First-time buyer mortgages
- Remortgage products
- Help to Buy equity loan mortgages
- Shared ownership mortgages
Buy-to-Let Mortgages
- Standard buy-to-let products
- Portfolio landlord mortgages
- Limited company buy-to-let
- Holiday let mortgages
- HMO (House in Multiple Occupation) mortgages
Extended Hours
Open 7 days a week with extended evening hours
Personal Service
Dedicated mortgage advisors and relationship managers
Digital Banking
Comprehensive online and mobile banking platform
Flexibility
Flexible lending criteria and innovative solutions
Key Features & Benefits
Unique Selling Points
- Seven-day banking with extended hours (8am-8pm weekdays, 8am-6pm weekends)
- On-the-spot account opening and debit card issuance
- Free coin counting and note exchange services
- Dog-friendly branches
- Safe deposit box services
- Local decision-making authority
Mortgage Features
- Competitive interest rates across product range
- Fee-free mortgage options available
- Flexible overpayment facilities
- Porting options for moving home
- Payment holidays available (subject to criteria)
- Green mortgage products for energy-efficient homes
Advantages
- Exceptional customer service culture
- Extended opening hours including weekends
- Local decision-making capabilities
- Competitive mortgage rates
- Flexible lending approach
- Comprehensive digital banking platform
Considerations
- Limited branch network compared to major banks
- Newer institution with shorter track record
- May have stricter criteria for some products
- Limited specialist mortgage products
- Higher arrangement fees on some products
Lending Criteria
Eligibility Requirements
- Age: 18-75 years at application, maximum age 80 at end of term
- Income: Minimum £25,000 per annum
- Employment: Employed, self-employed, or retired (with proof of income)
- Residency: UK residents with at least 3 years UK credit history
- Deposit: Minimum 5% for residential, 25% for buy-to-let
Assessment Criteria
- Maximum loan-to-income ratio of 4.5 times annual income
- Comprehensive affordability assessment
- Credit score and history evaluation
- Stress testing at current rate plus 3%
- Property valuation and location assessment
- Consideration of other financial commitments