Metro Bank has reduced rates on its 90 per cent LTV five-year fixed rate deals by 20 basis points.

For new business, the lender is now offering products starting at 3.39 per cent.

Remortgage deals, meanwhile, begin at 3.44 per cent.

This is the second such reduction on these products Metro has made this year after re-entering the 90 per cent LTV market in September 2020.

On the latest cut, Metro Bank director of mortgage distribution Charles Morley says: “We’re proud to have consistently remained one of the only lenders in the market offering 90 per cent LTV residential mortgages, at a time when most competitors had withdrawn their higher LTV products. These latest rate reductions provide even greater value for borrowers with smaller deposits.”