Buy to Let
Virgin Money cuts buy-to-let rates
Virgin Money has ramped up its bid to become a competitive player in the buy-to-let market by cutting rates across its fixed rate and tracker mortgages up to 0.80%.
The lowest rate in its refreshed range is 3.10% fixed for two years available up to 75% loan-to-value (LTV) with a product fee of £1,995. At the same LTV borrowers can choose a fee-free option at 4.24%.
A five-year fixed rate of 4.49% with a fee of £995 is available up to 75% LTV and at 70% LTV landlords can opt for a fee-free rate of 4.44%.
Reductions to buy-to-let trackers and selected residential fixed and tracker products have also been made.
Peter Rogerson, Virgin Money’s savings and mortgages director, said: “We’re delighted to announce these rate reductions and increase the competitiveness of our mortgage range for our customers, while retaining our offer of £500 cashback across the entire buy-to-let range.”