Metro Bank is reinstating joint borrower sole proprietor mortgages at up to 90 per cent loan-to-value.

The lender previously offered the products at this LTV, but during lockdown this was restricted to 80 per cent along with the rest of its core residential range.

As part of its joint borrower sole proprietor criteria, Metro will consider up to four applicants with a minimum of one borrower on the deeds.

It will consider lending up to a maximum age of 80, with the mortgage term dictated by the age of the oldest borrower.

Gifted deposits from close relatives are also permitted. 

Metro Bank director of mortgage distribution Charles Morley says: “We’re pleased to reintroduce these higher LTV rates on our five-year fixed rate mortgages. 

“As physical valuations have returned – and our market gradually begins to reopen – we wanted to give greater choice to customers who can afford to borrow more, as well as those that are keen to step onto the housing ladder for the first time.”