Metro Bank Remortgage Rates 2026

Metro Bank 2026 remortgage rate card

Metro Bank publishes four LTV bands (60%, 75%, 85%, 90%) for residential remortgage and offers both fee-paid and fee-saver variants at each tier. At 60% LTV the 2-year fixed is 4.24% (£999 fee) or 4.49% (fee-saver). The 5-year fixed is 4.14% / 4.39%. At 75% LTV, 2-year fixes are 4.34%/4.59% and 5-year fixes are 4.24%/4.49%. At 85% LTV, 2-year fixes are 4.54%/4.79% and 5-year fixes are 4.49%/4.74%. At 90% LTV — the top of Metro's standard range — expect 4.94% (2-year) and 4.79% (5-year) on the fee-paid option. Metro's tracker remortgage is Base +0.85% (5.10% today) with no early repayment charge, a flexible option for borrowers expecting further base rate cuts. Metro also offers offset mortgages — rare on the high street — which allow you to link your current account balance to reduce mortgage interest. Offset rates are typically 0.20% above equivalent non-offset pricing.

Metro's flexibility: self-employed, expats and non-UK nationals

Metro Bank has built a strong niche around borrowers whom mainstream banks find inconvenient. Three groups particularly benefit. **Self-employed**: Metro accepts 1 year of self-employed accounts in some cases, or 2 years of SA302s as standard. For limited company directors, Metro can use retained profits (not just salary + dividends) in affordability — a significant advantage over Halifax, Nationwide and most high-street banks which only look at drawn income. For a director paying themselves £12,570 salary + £15,000 dividend with £70,000 retained profit, Metro might lend based on ~£90,000 gross whereas others cap at £27,570. **Non-UK nationals**: Metro lends to non-UK nationals on Tier 1, Tier 2 and Skilled Worker visas, EU settled status and indefinite leave to remain. The minimum UK residency requirement is 6 months in most cases, dropping to 3 months for Tier 2 applicants earning over £40,000. Few high-street banks match this. **Contractors**: Metro assesses day-rate contractors on a rolling 12-week average multiplied by 48 working weeks, which often produces a higher income figure than the 'day rate x 5 x 46' formula used by TSB and Skipton. **Complex property**: Metro will consider flats with cladding (subject to EWS1), properties above commercial space (with restrictions on the commercial activity), and houses with annexes.

Fees, offset and true-cost analysis

Metro Bank's standard arrangement fee is £999. The fee-saver alternative adds 0.25% to the rate but removes the fee, a sensible option on loans below £200,000 where the 0.25% uplift costs less than £999 over 2 years. There's a £35 CHAPS fee on completion, no exit fee, and Metro uses an automated valuation for most remortgages up to £1 million at 85% LTV — so no valuation fee in typical cases. Physical valuation costs £215–£795 when required. Metro's free legal service covers standard residential remortgages via its conveyancing panel. Transfer-of-equity and other complex work usually requires your own solicitor. The free legal service is typical-quality; faster-moving banks (Halifax, first direct) tend to beat Metro on completion speed. On a £200,000 remortgage at 60% LTV over 5 years, Metro's 4.14% rate with £999 fee and free legals comes to approximately £52,700 total cost — identical to Skipton, £100 above Halifax. Metro's offset mortgage at 4.34% with £50,000 in linked savings effectively pays at 3.10% on £150,000 — true total cost drops to about £47,800, a £4,900 saving over 5 years. For borrowers with significant cash savings, Metro's offset is genuinely market-leading value.

Metro vs the competition: where does it win?

At 60% LTV, Metro's 5-year fixed rate of 4.14% is within 0.05–0.10% of Halifax (4.04%), Nationwide (4.09%), Santander (4.14%) and Skipton (4.14%). On pure rate, Metro is in the competitive middle, not the top. Metro wins on three specific axes: 1. **Retained profit for limited company directors** — this can unlock borrowing power that Halifax and NatWest simply won't offer. 2. **Offset mortgages** — Metro is one of only four mainstream lenders (alongside Clydesdale, Scottish Widows and Yorkshire BS/Accord) to offer true offset. For savers, it's unmatched on the high street. 3. **Non-UK nationals and complex residency** — Metro's 6-month UK residency floor is the lowest on the high street. HSBC and Barclays often require 2–3 years. Where Metro doesn't win: pure rate comparisons for straightforward residential cases. If you're a PAYE employee with 3 years UK residency and a vanilla property, Halifax or Nationwide will beat Metro on headline rate by 0.05–0.10%, which is £200–£400 over 5 years on a £200k loan.

Is Metro Bank the right 2026 remortgage choice?

Metro Bank is the right remortgage lender if: you're a limited company director with significant retained profits, you have meaningful cash savings and want offset, you're a non-UK national or recently-arrived UK resident, you're a day-rate contractor, you want a flexible 2-year tracker with no ERC, or you prefer a branch-first bank with long opening hours (Metro branches open 7 days a week, 8am–8pm). Metro is not the right choice if: you want the absolute cheapest 60% LTV rate (Halifax or first direct win), your loan is under £100,000 (Metro's minimum is typically £75,000 but the fee makes small loans uneconomic), you want a 10-year fixed deal (Metro doesn't offer one), or you want retirement interest-only (Metro has no RIO product). For April 2026, the verdict is straightforward: Metro is a top-3 choice for limited company directors, offset borrowers and non-UK nationals. For everyone else it's a solid mainstream option that's usually within £300 of the best-buy on a 5-year fix. Get a broker to run it against Halifax, Nationwide and HSBC before deciding.