UK challenger Metro Bank is to let its residential mortgage customers rent their properties through Airbnb, and similar sites, for up to 90 days a year without prior approval.

Metro Bank chief commercial officer, Paul Riseborough, says: “We love what the sharing economy represents and the freedom and collaboration it encourages. 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.”

Airbnb general manager of UK & Ireland, James McClure, comments: “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.”

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by Scott Thompson
Scott is Senior Editor at IBS Intelligence. You can follow him on Twitter and contact him at: Scott.Thompson@ibsintelligence.com
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