For customers looking for a new mortgage, the reduced rate is now 3.39%.

Those looking to remortgage benefit from a reduced rate of 3.44%.

Charles Morley, director of mortgage distribution at Metro Bank, said: “We’re proud to have consistently remained one of the only lenders in the market offering 90% LTV residential mortgages, at a time when most competitors had withdrawn their higher LTV products.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.”