Metro Bank will raise prices across its core, large loan, remortgage-only, near prime buy to let and professional ranges.

The challenger bank will lift the product fee to £1,999 across its core, remortgage-only, near prime and professional ranges, which it says can be added to the total mortgage amount. There is no change to large loan product fees.

A 1% product fee will be added to its BTL range, which it again says can be added to the total mortgage amount.

It will also lift its five-year fixed stress rate on BTL products to 5.5% at 140% of the mortgage interest amount.

The bank says these changes will come into place from 5.30pm on 10 August, adding that brokers should ensure that fully packaged applications must be submitted by this time to secure current products.