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Buy to Let

Virgin Money cuts buy-to-let rates

Samantha Partington
Written By:
Samantha Partington
Posted:
Updated:
07/01/2015

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.”


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