Top slicing will be calculated at an interest rate of 5.50% with a minimum personal income requirement of £50,000, excluding income received from buy-to-let properties.
Additionally, the interest stress rate on five-year fixed rate products has been reduced from 5.24% to 5.00%. For all other products the stress rate will remain at 5.50%.
The straight balance swap stress rate has also been reduced from 5.99% to 5.50%.
Last month, Virgin Money launched a new £750 cashback incentive on its intermediary exclusive buy-to-let range, available for a limited time to support landlords coming to the end of their existing deals this spring.
