Metro Bank has expanded its commercial mortgage range to offer an 85% loan-to-value (LTV) for loans up to £5 million. 

The loan is open to all businesses in England and Wales with at least two years trading history. 

Metro Bank launched its 75% LTV commercial mortgage earlier this year.

Metro Bank director of commercial banking Mark Davies says: “Commercial mortgages help businesses of all sizes to secure that next step in their growth journey.”

“We know that the benefits of owning your own premises can be transformational in securing the future of your business and we’re thrilled to offer one of the most competitive products available as we become the UK’s best specialist lender on the high street.”

Elsewhere, West Brom Building Society has reduced rates by up to 0.18% across its 90% LTV remortgage range.

Within its two-year fixed product range, the rate on the £999 fee option has been reduced by 0.12% to 4.69%, while the fee-free option sees a reduction of 0.18% to 4.99%.

 In addition, five-year fixed rates have been reduced. Both the £999 fee and no-fee options have been cut by 0.11%, now priced at 4.94% and 5.06%, respectively.

West Brom Building Society product manager Aran Mann states: “We’re pleased to be reducing rates across our 90% LTV fixed remortgage range, supporting more recent homebuyers with a smaller level of equity in their homes, at a time when affordability remains a key concern.”

Last month, West Brom made reductions across its three-year fixed mortgage range, with cuts of up to 0.23%.