Virgin launches new buy-to-let exclusives and reduces rates

Virgin has reduced buy-to-let rates by up to 0.10%.

Related topics:  Mortgages
Rozi Jones | Editor, Barcadia Media Limited
15th May 2024
Virgin Money

Virgin Money has launched new buy-to-let exclusives and reduced rates across selected buy-to-let products.

The lender has launched a new 60% LTV five-year fixed rate buy-to-let product, launching at 4.67% with a £2,195 fee. A portfolio equivalent product has also launched at 4.97%.

In its existing range, a 75% LTV five-year fix with a £2,195 fee is reducing by 5bps to 5.72%, with the portfolio product also down by 0.05% to 4.92%.

In addition, buy-to-let product transfer rates have reduced by 0.10%, now starting from 4.51%.

In Virgin's residential range, a new 75% LTV £500k+ Fix and Switch remortgage product with a £1,495 fee has launched at 5.24%.

The Fix and Switch range offers borrowers the security of a five-year fixed rate with the flexibility of being able to switch to another product with no early repayment charge after just two years.

As part of the changes, the maximum loan size on a Fix and switch residential remortgage product at 75% LTV is reducing to £500,000.

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