Metrobank

MTB001_criteria.json

{
  "metadata": {
    "lender": {
      "code": "MTB001",
      "name": "Metro Bank"
    },
    "urls": [
      {
        "url": "https://www.metrobankonline.co.uk/globalassets/documents/customer_documents/intermediaries/portfoliolandlordsupportguide.pdf",
        "processed_date": "2024-12-01T17:49:06.338687",
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        "parent_url": null
      },
      {
        "url": "https://www.metrobankonline.co.uk/globalassets/documents/customer_documents/intermediaries/rental-criteria-guide.pdf",
        "processed_date": "2024-12-01T17:49:09.859232",
        "relevance_score": 0.45454545454545453,
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      {
        "url": "https://www.metrobankonline.co.uk/globalassets/documents/customer_documents/intermediaries/cbtl-support-guide.pdf",
        "processed_date": "2024-12-01T17:49:11.573015",
        "relevance_score": 0.5,
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    ],
    "processed_date": "2024-12-01T17:49:01.844639"
  },
  "sections": {
    "Main Content": {
      "text": "Consumer Buy to Let support guide - For intermediary use only\nThe purpose of this support guide is to help you quickly identify if a customer application should be classified as Consumer Buy to Let (CBTL) or Buy to\nLet (BTL).",
      "header_level": "unknown"
    },
    "1. PRA II - A brief overview": {
      "text": "From 30 September 2017, the PRA\u2019s new underwriting standards will come into force. Landlords with four or more distinct\nmortgaged Buy to Let properties will now be defined as \u201cPortfolio Landlords\u201d.\nDue to the more complex nature of lending to portfolio landlords, lenders will be required to take a proportionate approach based\non their knowledge of the borrower, their portfolio and any alternative sources of income they have.\nMetro Bank\u2019s new criteria, accommodating the Portfolio Landlord changes, commenced on 30 September 2017. The criteria will\napply when brokers are submitting cases for \u201cPortfolio Landlords\u201d.",
      "header_level": "unknown"
    },
    "2. Metro Bank\u2019s definition of Portfolio Landlord": {
      "text": "A borrower(s) having four or more BTL mortgages collectively*- also included is a borrower who offers personal guarantee(s) to a\nLimited Company Buy to Let loan. Unencumbered properties are not taken in to consideration and are therefore not included as\npart of the four or more property rule.\n*Please note that the four or more properties also includes the one that you are applying for.",
      "header_level": "unknown"
    },
    "5. What are Metro Bank\u2019s new documentation requirements?": {
      "text": "We will require a number of documents to assess an application. Documents include:\n\u2022 A portfolio schedule, an assets and liabilities schedule\n\u2022 A cash flow statement\n\u2022 Bank statements covering the previous three months\n\u2022 If the borrower has not purchased a BTL property within the past 12 months a business plan will be required.",
      "header_level": "unknown"
    },
    "6. Will there be additional underwriting checks by Metro Bank?": {
      "text": "An initial assessment will be based on documentation evidence supported by a variety of data checks and validation with\npartnering suppliers.",
      "header_level": "unknown"
    },
    "7. Will a rental assessment be carried out for background properties?": {
      "text": "The total borrowing on the portfolio and the new property being purchased/remortgaged will be stressed at 140% at 5.5%.\nWe also accept top slicing - earned income can be considered to support buy to let loans where the rental income is equal to, or\ngreater than 100% cover of the mortgage interest amount calculated at Metro Bank\u2019s 5.5% stress rate. This must be evidenced by\nincome and expenditure (minimum individual income on these applications is \u00a350,000, or joint income of \u00a375,000).",
      "header_level": "unknown"
    },
    "8. How does a mortgage intermediary provide Metro Bank with details of their customers portfolio of properties?": {
      "text": "Editable PDF\u2019s are available via the intermediary website which can be populated and uploaded to the application through our\nIntermediary Mortgage portal. Excel spreadsheets are also acceptable.\nMetro Bank PLC is registered in England and Wales, company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. We\u2019re authorised by the Prudential Regulation\nAuthority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. \u2018Metrobank\u2019 is the registered trade mark of Metro Bank PLC. 1440 OF S6485 (01/19)\nPortfolio Landlord Support Guide (continued)",
      "header_level": "unknown"
    },
    "9. What other background checks will you undertake on the portfolio \u2013 e.g. will you use an automated valuation process to": {
      "text": "assess rental and valuations?\nInitial assessment will be based on documented rental evidence supported by the use of AVM\u2019s and validation with partnering\nsuppliers on the valuation and rental income expected from each property in the portfolio.",
      "header_level": "unknown"
    },
    "10. Will Metro Bank continue to use rental income from portfolios to assess affordability? Yes": {
      "text": "For further information please refer to our lending criteria guide on: metrobankonline.co.uk/intermediaries/helpful-documents\nor contact the broker helpdesk on 0203 427 1019.\nMetro Bank PLC is registered in England and Wales, company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. We\u2019re authorised by the Prudential Regulation\nAuthority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. \u2018Metrobank\u2019 is the registered trade mark of Metro Bank PLC. 1440 OF S6485 (01/19)",
      "header_level": "unknown"
    },
    "1.CBTL GUIDE": {
      "text": "We accept CBTL applications which we classify as a BTL mortgage contract which is not entered into wholly or predominantly for the purposes\nof a business carried on, or intended to be carried on, by the borrower.\nApplicants who fall into this category will receive additional complaint and compensation protection than normal BTL investors as result of MCD.\nNOTE: The below decision tree should apply to all applicants, for example if only one of the two applicants owns an existing Buy to\nLet then \u2018No\u2019 should be selected to ensure that the relevant level of protection is provided to both customers.\nIf CBTL is identified then a full advice process should be followed unless the applicant meets the regulators execution only exemption (I.E. HNW\napplicants).\nFor full details on the points detailed above please refer to our Mortgage Lending Criteria Guide on: www.metrobankonline.co.uk/intermediaries or call\nour Broker helpdesk on 0203 427 1019\nMetro Bank PLC is registered in England and Wales, company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. We are authorised by the Prudential Regulation\nAuthority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. \u2018Metrobank\u2019 is the registered trade mark of Metro Bank PLC. 1419 AF S4823 (06/17)",
      "header_level": "unknown"
    }
  }
}