Metro has cut rates at 75% LTV by 50 basis points as well as launching new deals for borrowers with small deposits.

The lender has today launched a number of two and three-year fixed rates at 95% LTV.

These start at 3.69% for a two-year fixed with a £999 fee for purchases or at 3.69% for a two-year fixed with no fee for existing borrowers switching rates.

Meanwhile, borrowers looking to remortgage at 95% LTV can do so with a two-year fixed at 3.79% with a £999 fee and a choice of either free legal and valuation fees or £250 cashback.

The lender has cut rates on all its deals at 75% LTV by 50 basis points.

Following the reductions the following rates apply:

• 75% LTV two and three-year fixed rates start at 2.09%
• 75% LTV five-year fixed rates start at 2.24%

The bank launched into specialist mortgages last year by updating its criteria for buy-to-let lending.

Since then, Metro has launched a range of near-prime residential mortgages for borrowers with a less-than-perfect credit score.

Head of mortgages Tony Davis says: “In line with our specialist strategy, Metro Bank is pleased to offer significant rate reductions across our 75% LTV products whilst further expanding our 95% LTV range as well. 

“These changes will help us continue to assist our increasing range of customers and is a good example of us listening and responding to customer and broker feedback.”