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Virgin Money cuts BTL rates and adds deals

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  • 14/05/2024
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Virgin Money cuts BTL rates and adds deals
Virgin Money has lowered select buy-to-let (BTL) mortgage rates and added deals to its residential offering.

Virgin Money’s reductions include a five-year fix at 75% loan to value (LTV) with a £2,195 fee, which has seen the rate reduced from 4.77% to 4.72%. 

The alternative for landlord borrowers with a portfolio has also been reduced by the same amount to 4.92%. 

These products are available within its exclusive range. 

Across its product transfer offering, Virgin Money has cut fixed rates for BTL borrowers by 0.1%, with pricing now starting at 4.51%. 

 

Product launches 

Virgin Money has launched five-year fixes at 60% LTV with a £2,195 fee, with a rate of 4.67% or 4.87% for portfolios.

It has also added a Fix and Switch product to its residential remortgage range for borrowing amounts of £500,000 or more. This is available at 75% LTV with a £1,495 fee and a rate of 5.24%. 

The maximum loan size for the existing Fix and Switch residential remortgage at 75% LTV with a £1,495 fee has been reduced to £500,000. This has a rate of 5.14%. 

This morning, Virgin Money released its trading update for the second quarter of its financial year, where it announced a decline in its mortgage book due to a subdued market.

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