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Virgin Money adds BTL portfolio exclusives and adjusts rates

  • 16/04/2024
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Virgin Money adds BTL portfolio exclusives and adjusts rates
Virgin Money has launched buy-to-let (BTL) portfolio and residential remortgage products within its exclusive range.

This offering from Virgin Money includes a Fix and Switch fee-saver option for BTL portfolio borrowers with a two-year early repayment charge (ERC) period. There is a five-year fix at 60% loan to value (LTV) with a rate of 5.59% and an equivalent deal at 75% LTV with a rate of 5.69%. 

For corresponding deals with a £1,495 fee, the option at 60% LTV has a rate of 5.14%, while the 75% LTV option is priced at 5.29%. 

The residential remortgage fee-saver product is fixed for five years and available at 75% LTV with a 4.69% rate. It offers a free valuation and free legals. 


Rate changes 

Virgin Money will also be tweaking its rates, with some increases and reductions. 

Its Fix and Switch purchase product rates will increase by up to 0.1% and start from 5.18%, while Fix and Switch remortgage pricing will rise by 0.05% and start from 4.94%. 

Its BTL Fix and Switch product at 60% LTV with a £1,495 fee will be increased by 0.05% to 4.94%. 

Additionally, Virgin Money will rate its two-year fixed purchase rates with a £995 fee up to 85% LTV by as much as 0.15%. 

Reductions include its two- and five-year fixed BTL mortgages with a 1% fee, which will be cut by 0.07% to start from 4.52%. 

These products were added to the Virgin Money offering at the start of the month. 

Its five-year fix for BTL borrowers at 60% LTV with a 3% fee will be reduced by 0.08% to 4.09%. 

Virgin Money’s five-year fixed exclusive remortgage product at 75% LTV with a £895 fee will go down from 4.59% to 4.54%. 

Changes will apply from 16 April. 

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