Buying a Home
Remortgaging
Landlord
Specialist
Secured Loans
Debt Consolidation
Conveyancing
Finding a Solicitor
Mortgages
Metro Bank is a specialist lender best known for flexible, human-led underwriting on near-prime, self-employed, and buy-to-let cases. Here's how their products, eligibility criteria, and application process work, so you can see if they're right for you.
Metro Bank is a legitimate, high-street bank authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority. It's a good option if you're a near-prime borrower, self-employed, a qualified professional, or a buy-to-let landlord who doesn't fit a standard lending profile.
Overall, Metro Bank mortgages work best for borrowers who need individual case assessment. Their 20% annual overpayment allowance on residential mortgages is also more generous than the 10% typical of many competitors.
Metro Bank mortgages offer UK homeowners a genuine alternative to the big high-street lenders, with a particular strength in helping borrowers who don't fit the mainstream mould. As the first new high-street bank to launch in the UK in over 150 years when it opened in 2010, Metro Bank has built a niche as a specialist mortgage provider with flexible criteria and individual, human-led underwriting.
This review covers Metro Bank's product range, rates positioning, eligibility criteria, fees, and application process, along with real customer feedback, so you can decide whether they're a good fit for your circumstances.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
Overall, we rate Metro Bank mortgages 3.5 out of 5.
Near-prime borrowers, self-employed professionals, buy-to-let landlords, and applicants who value human underwriting over algorithmic decisions.
Borrowers with excellent credit and straightforward circumstances, who will typically find more competitive pricing with mainstream lenders such as NatWest, Barclays, or HSBC.
Metro Bank mortgages shine brightest when you need flexible underwriting. If you have straightforward circumstances and excellent credit, you'll likely find better value elsewhere with mainstream lenders. But if you've been turned down elsewhere or have a complex financial picture, Metro Bank's human-led approach could make a real difference.
Quick verdict
Metro Bank mortgages are provided by a UK retail and commercial bank headquartered in London. Metro Bank was founded in 2010 by American entrepreneur Vernon Hill II and British banker Anthony Thomson, becoming the first new high-street bank to launch in the United Kingdom in over 150 years.
The bank was established to challenge the traditional banking model, focusing on customer service and convenience rather than competing purely on price. Metro Bank introduced features that were unusual for UK banking at the time, including seven-day branch opening, instant account opening with a working debit card, and dog-friendly branches (which it calls "stores").
Metro Bank has shifted its strategic focus in recent years towards specialist lending, including mortgages, with specialist mortgage lending growing substantially during 2025 as the bank leans further into this market segment.
The bank experienced some turbulence in 2019, when an accounting error led to regulatory scrutiny and a significant share price drop. Since then, Metro Bank has undergone restructuring and refocused on higher-yielding specialist lending, including its mortgage products.
Metro Bank offers a comprehensive range of mortgage products designed for different borrower needs, spanning standard residential lending through to specialist near-prime and buy-to-let options.
Metro Bank's standard residential mortgages are designed for straightforward home purchases and remortgages, with loan amounts from £50,000 and no upper limit subject to criteria. Maximum loan-to-value is 85%, with fixed-rate and tracker options available on terms from 5 to 35 years, up to a maximum age of 80 at the end of the term.
This is complemented by a range of specialist residential products, including a near-prime range for borrowers with imperfect credit histories, a professional mortgage range offering enhanced income multiples to qualified professionals, a large loan range for borrowing over £1 million, interest-only options, and dedicated new build products with extended valuation validity.
Metro Bank's near-prime range is one of the more flexible options on the high street. They'll consider satisfied and unsatisfied defaults up to £2,000 in the last 24 months, and you don't need to clear old debts before completing - that's a real advantage if you don't have spare cash to settle historic defaults.
Metro Bank has built a strong presence in the buy-to-let market. Standard buy-to-let loans range from £100,000 to £10,000,000, with a maximum loan-to-value of 80% and terms from 5 to 35 years. Rental income needs to cover at least 125% of the mortgage payment at the lender's stress rate, and up to 10 rental properties are accepted.
Landlords operating through a limited company (a special purpose vehicle, or SPV) can borrow up to 75% loan-to-value, provided the company is non-trading and limited to holding residential property, with a maximum of four directors and shareholders. Metro Bank also launched dedicated products for Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs) in 2025, available to both personal and limited company borrowers.
Product range
Buy-to-let range
Not sure which product fits?
An advisor can check your circumstances against Metro Bank's criteria and compare them with other specialist lenders, so you know where you stand.
Metro Bank's mortgage rates sit in the mid-market, specialist bracket rather than at the very top of the best-buy tables. Rates change frequently and depend on your loan-to-value, product type, and individual circumstances, so speak to an advisor for up-to-date pricing that reflects your situation.
In broad terms:
If you have excellent credit and a straightforward application, mainstream lenders such as NatWest, Barclays, HSBC, and Nationwide will typically offer more competitive pricing. Metro Bank's appeal isn't the headline rate - it's the willingness to manually underwrite complex cases that many mainstream lenders would decline outright.
For borrowers who don't fit a standard lending profile, Metro Bank's rates are often more competitive than other specialist lenders, while still offering the reassurance of a recognised high-street name.
One of Metro Bank's key strengths is its flexible approach to eligibility, particularly for borrowers who don't fit a standard lending profile.
Standard products require no defaults registered in the last 3 months, and a maximum of £1,500 combined defaults or debt repayment orders in the last 36 months. The near-prime range is considerably more flexible, accepting up to £2,000 combined defaults or debt repayment orders in the last 24 months, and discharged insolvency more than 3 years prior to application.
Metro Bank doesn't require you to satisfy (pay off) existing defaults or debt repayment orders before completing your mortgage - a notable advantage over many competitors who insist on this.
If you're worried about your credit history or your ability to keep up with mortgage repayments, free and impartial guidance is available from MoneyHelper on 0800 138 7777 or at moneyhelper.org.uk.
Metro Bank's income multiples go up to 4.5x for standard products and 4.45x for near-prime, with enhanced multiples for qualified professionals. If you're close to the threshold, it's worth having your broker check exactly how your bonus or overtime will be assessed before you apply.
Metro Bank is fairly flexible on property types, accepting houses, flats up to 6 storeys, new builds, ex-local authority flats up to 6 storeys, share of freehold, and flying freehold up to 20% of total floor area. Properties with solar panels and those in conservation areas are also accepted.
They won't lend on Concrete Large Panel System construction, properties outside England and Wales, commercial properties, properties with structural issues, or very small properties under 30m² gross internal area.
Understanding the total cost of a Metro Bank mortgage means looking beyond the interest rate at the fees charged for arranging, valuing, and completing the loan.
Metro Bank's early repayment charge structure is straightforward: it's charged at 1% for each year remaining on your initial fixed or discounted rate period. Overpayments within your annual allowance don't count towards this.
The 20% annual overpayment allowance on residential mortgages is more generous than many competitors, who typically cap overpayments at 10%.
Metro Bank offers fee-assist products specifically for remortgage customers, which can include a free valuation and a contribution towards legal fees. Speak to an advisor to check what's currently available.
The 20% overpayment allowance is one of the more generous we see on residential mortgages. If you expect a bonus, inheritance, or other lump sum during your fixed period, that's worth factoring in when comparing lenders.
Metro Bank mortgages are available through mortgage brokers only - you can't apply to them directly. Your broker will need proof of identity, proof of address, proof of income, recent bank statements, and details of your existing debts and commitments to submit your application.
A soft credit check is performed at the initial application stage, which won't affect your credit score. A full credit check (which will appear on your credit file) is carried out once your full application and supporting documents are submitted.
How it works
Initial application
Your broker submits your application through Metro Bank's broker portal. A soft credit check is performed at this stage, which won't affect your credit score.
Full application and documentation
Your broker submits the full application with supporting documents. Metro Bank performs a full credit check, verifies your income, and assesses affordability. This typically takes 3-5 working days.
Underwriting
Metro Bank's underwriters review each case individually rather than relying purely on automated decisions, so complex and near-prime applications get proper consideration. This typically takes 5-10 working days.
Property valuation
Metro Bank instructs a valuation, usually a desktop or drive-by assessment for standard properties, or a full physical inspection for higher-value or unusual properties. This typically takes 3-5 working days.
Mortgage offer
Once underwriting and valuation are complete, you'll receive a formal offer setting out how much you can borrow, any special conditions, and the offer's validity period (typically 6 months, or 9 months for new builds).
Legal work and completion
Your solicitor handles property searches, reviews the title, prepares legal documentation, and manages exchange and completion. Most applications complete within 4-6 weeks from submission, though complex cases can take longer.
Things to weigh up
It's worth comparing Metro Bank to a mainstream lender, a major high-street bank, and typical specialist lenders before deciding where to apply.
Verdict: Nationwide offers more competitive rates and higher loan-to-value for mainstream borrowers. Metro Bank wins on near-prime lending and overpayment flexibility.
Verdict: Barclays offers more competitive rates for mainstream borrowers. Metro Bank provides more flexibility for complex cases and near-prime lending.
Comparison
Metro Bank's customer feedback shows a mixed picture, and it's worth separating retail banking reviews from mortgage-specific experience.
Metro Bank has a Trustpilot rating of approximately 2.0 out of 5 from around 5,500 reviews. Positive feedback tends to mention helpful branch staff, quick account opening, and easy-to-use online banking. Negative feedback more often relates to long phone wait times, account freezing issues, app reliability problems, and reduced branch opening hours.
Most Trustpilot reviews relate to retail banking (current accounts and savings) rather than mortgages specifically. Mortgage applications are handled by a dedicated team and generally receive better feedback than everyday banking.
In Which?'s 2025 mortgage customer satisfaction survey, Metro Bank received a customer score of 54%, compared to an average of 74% across lenders. This places them towards the lower end of the market for customer satisfaction, though several brokers report positive experiences with Metro Bank's mortgage team, particularly around responsive business development managers, clear communication during applications, and reasonable underwriting timelines.
Metro Bank's mortgage service appears to be a stronger part of the business than its retail banking, even as its wider customer reputation remains mixed. If you're using a mortgage broker, your main point of contact will usually be them rather than Metro Bank directly, which can help smooth over any service issues.
Common questions
Yes. Metro Bank is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority. It's a publicly listed company on the London Stock Exchange, and eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme.
Yes. Metro Bank's near-prime range is specifically designed for borrowers with imperfect credit histories. They accept applicants with defaults up to £2,000 in the last 24 months, lower credit scores, and discharged insolvency more than 3 years old. You won't qualify for their standard products with significant credit issues, but the near-prime range offers a genuine pathway to homeownership.
Yes. First-time buyers can access Metro Bank's full range of residential mortgages, including near-prime products if they have credit issues. Metro Bank doesn't have dedicated first-time buyer products, but they don't restrict their range based on whether you've owned property before.
Most Metro Bank mortgage applications complete within 4-6 weeks from submission to completion. Complex cases or property issues can extend this. Metro Bank provides updates through its broker portal, and underwriting typically takes 5-10 working days.
No. Metro Bank mortgages are only available through mortgage brokers. You'll need to work with a broker who can submit your application through Metro Bank's intermediary portal, and who can compare Metro Bank's products against other lenders to find an option that suits your circumstances.
Metro Bank offers up to 85% loan-to-value on its residential mortgage products, meaning you'll need at least a 15% deposit. For interest-only mortgages, the maximum is 70%. For buy-to-let, they offer up to 80% on selected products.
Yes. Metro Bank accepts self-employed applicants with as little as one year's trading history in some cases, assessing income using your latest year's accounts or SA302 tax calculations. Their professional mortgage range is particularly well-suited to self-employed professionals like doctors, lawyers, and accountants.
Yes. Metro Bank allows residential mortgage customers to overpay by up to 20% of their outstanding balance each year without incurring early repayment charges. Buy-to-let customers can overpay by up to 10%. Overpayments above these allowances will incur a charge.
Metro Bank's early repayment charges are typically 1% for each year remaining on your initial fixed or discounted rate period. You can make overpayments within your annual allowance (20% for residential, 10% for buy-to-let) without incurring charges.
Yes. Metro Bank has a comprehensive buy-to-let range including standard buy-to-let, limited company structures, HMOs, and MUFBs. They accept landlords with up to 10 properties and offer up to 80% loan-to-value on selected products. Rental income must cover at least 125% of the mortgage payment at the lender's stress rate.
When your fixed rate ends, your mortgage will move to Metro Bank's Standard Variable Rate, which is typically higher than fixed or tracker deals. To avoid moving onto it, you can switch to a new deal up to 3 months before your current rate ends without paying early repayment charges. Speak to an advisor in good time to compare your options.
Yes. Metro Bank offers remortgage products including fee-assist options that can cover valuation and legal costs. You can remortgage to Metro Bank from another lender, or switch products if you're already a customer. Their near-prime range can be useful if your credit has changed since you took out your original mortgage.
No. Metro Bank only lends on properties in England and Wales. If you're buying or remortgaging in Scotland, Northern Ireland, the Channel Islands, or the Isle of Man, you'll need to use a different lender.
Metro Bank doesn't publish specific credit score requirements. Standard products require a generally good credit history with limited recent adverse credit, while the near-prime range accepts lower credit scores and more significant credit issues. All applications are individually assessed by their underwriting team, so factors beyond your credit score are considered.
Yes. Despite being a relatively new entrant to UK banking, having launched in 2010, Metro Bank is a genuine high-street bank with 76 physical stores across England and Wales. This sets it apart from purely online banks or specialist lenders, though its mortgage products are only available through brokers rather than in branch.
What our clients say
Shortly after I spoke with Anna, she was also very helpful and made it effortless and a nice experience.
Had a really good experience regarding arranging a secured loan. They introduced me to a great advisor. Thanks for the help.
For once a loan transaction without stress and complications. Very impressed and highly recommended.
Thrilled to share my exceptional experience with Money Saving Advisors. The website made it incredibly simple and easy to connect with an advisor. They helped me find the best deal on my remortgage and secured a very competitive interest rate!
Great advice and money saved on mortgage.
I have previously declined a loan of the value I needed from various brokers, but this website found me a reputable broker with surprisingly decent rates.
Mortgages
Compare mortgage rates from a wide range of lenders. Our expert advisors are here to help you find the right deal.
