Metro Bank plans to launch a series of product ranges in both shared ownership and limited company buy to let.
The launch will be assisted by a “major” transformation of Metro’s mortgage origination platform which it hopes will streamline the process for both mortgage intermediaries and customers.
Metro also stated that, as a result of the platform upgrade, mortgage intermediaries will now be able to request a day one valuation in more cases rather than wait for the initial underwriting process to be completed, if this is something their customer requires.
This could potentially lead to a quicker and smoother process for them, according to the bank.
Administrators will now be able to manage the application post-submission, allowing them to keep a case moving quickly through the system.
Metro Bank director of mortgage distribution, Charles Morley, said: “This significant system transformation will help us to support a wider breadth of mortgage customers."
Morley added that those at Metro have worked hard on delivering a more efficient process and are confident that these changes will make a real, positive difference for mortgage intermediaries and their teams.
“The transformation is a significant milestone in our journey and provides the foundation to be much more flexible in the markets we choose to operate in, including our upcoming products for shared ownership and limited company BTL markets,” he added.
tom.dunstan@ft.com
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