It launches new exclusives and slashes rates on selected deals
Virgin Money has announced a revamp of its buy-to-let mortgage offerings, including the launch of new exclusive rates and reductions on existing products.
Among the new products, Virgin Money is introducing a 60% loan-to-value (LTV) BTL five-year fixed rate mortgage at 4.67% with a fee of £2,195. A similar option for portfolio landlords will be available at 4.87%.
For those looking at a higher LTV, a new 75% LTV product for mortgages over £500,000 has been launched, offering a fixed rate of 5.24% with a £1,495 fee.
Reductions in rates include a 0.05% decrease for both the 75% LTV BTL five-year fixed rate and the equivalent portfolio option, bringing them down to 4.72% and 4.92%, respectively.
Virgin Money also lowered its BTL fixed rates across product transfers by 0.10%, starting at 4.51%.
Meanwhile, the lender lowered the maximum loan size for the Fix and Switch residential remortgage at 75% LTV to £500,000.
The lender’s current rates, reflecting the latest changes, can be accessed online through its updated product guide.
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