Financial News: Metro Bank backs mortgage customers to rent out homes through Airbnb

It’s good news for Metro Bank mortgage customers, who have just been backed by the bank to share their home on Airbnb for up to 90 days a year, without needing to get prior approval. This exciting offer applies to both new and existing customers.

Explaining the benefits the sharing economy brings to its customers, Metro Bank’s Chief Commercial Officer Paul Riseborough said:

“We love what the sharing economy represents and the freedom and collaboration it encourages.”

He added that he hoped the announcement: “Will give our customers the reassurance they need to jump in and take advantage of everything the dynamic sharing economy has to offer.”

This pioneering move by Metro Bank follows similar schemes by many insurance companies, who have created sharing economy and home sharing specific policies globally.

James McClure, Airbnb General Manager for UK and Ireland, said: “The way people use their homes is changing and this is an exciting step change from one of the UK’s most innovative banks.

“We hope this triggers further support from the mortgage industry as we work together to provide real economic benefits for people and neighbourhoods.”

Read more about the announcement here.