Virgin Money launches BTL range from 3.38%

Virgin Money has today launched a new range of buy-to-let mortgage products.

Related topics:  Mortgages
Amy Loddington
23rd September 2013
Mortgages

The new range is available through registered mortgage intermediaries, in Virgin Money Stores and over the telephone, with rates starting from 3.38% for a 2 year fixed rate product with a £1,995 fee.

Following the fixed or tracker period, all mortgages from the new buy-to-let product range will revert to the Virgin Money Buy-To-Let Variable Rate.  This revert rate for new buy-to-let mortgages is currently set at 4.99%.

This change does not affect existing buy-to-let loans or any residential mortgages.

Peter Rogerson, Commercial Director for Mortgages and Savings at Virgin Money said: 

“Buy-to-let is an important segment of the mortgage market, and is becoming increasingly important to Virgin Money.  These mortgages have a different risk profile from residential lending which is why many lenders have a separate revert rate from residential loans.  We believe this is a sensible approach, and so all our new buy-to-let mortgages will include this feature. There are no changes for existing customers.”

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