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Virgin Money launches portfolio landlord buy-to-let mortgages
Virgin Money has extended its buy-to-let offering to portfolio landlords.
The lender will now accept applications from portfolio landlords with up to 10 mortgaged buy-to-let properties, with a maximum exposure of £3m, or five properties mortgaged with Virgin Money.
At the same time, the maximum loan term has been increased to 35 years from 25 years.
Virgin Money offers free basic valuations on all buy-to-let remortgage applications, and either free standard legal work or cashback.
The lender has also partnered with property risk software developer eTech to provide its online buy-to-let hub, with the aim of offering brokers a streamlined process to submit a client’s portfolio details.
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Andrew Asaam, director of mortgages at Virgin Money, said: “We’re delighted to announce our launch into the portfolio landlord market and especially pleased to be partnering with e-Tech.
“Harnessing their technology to facilitate portfolio submissions will deliver a fantastic process for our mortgage brokers and complement our overall intermediary service.”
Earlier this month it was announced that Virgin Money will be taken over by Clydesdale banking group.