Insights

Metro Bank endorse Airbnb (and sharing economy)

18/11/2016

Metro Bank make an express and forward thinking permission to all their borrowers permitting letting of up to 90 days.  

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Metro Bank says mortgage customers can rent out homes on Airbnb. ‘A pioneering move to support the sharing economy.’ says Metro Bank. Generally lenders expect customers to ask permission before offering their homes for short-term lets, and some will charge a fee to give consent. Paul Riseborough, chief commercial officer at Metro Bank, said: “Our focus is on making our customers’ lives as straightforward and convenient as possible, and we therefore hope today’s news will give our customers the reassurance they need to jump in and take advantage of everything the dynamic sharing economy has to offer.” “It is important, however, to also check with your buildings and contents insurance provider whether you will still be covered if something happens while a third party is occupying the property even for a short time

https://www.theguardian.com/money/2016/nov/17/metro-bank-mortgage-customers-rent-homes-airbnb