According to the lender, the maximum age has been extended from 75 to 85 years across all buy-to-let lending and Virgin has also increased its maximum LTV to 80%. New 80% LTV products include a two-year fix starting from 3.45% and a five-year fixed rate from 3.61%, both with a £1,995 fee.
For loans greater than 75% LTV, the maximum loan size is £350,000.
All buy-to-let purchase applications are available with £500 cashback. Free basic valuations are available on all buy-to-let remortgage applications with a choice of either free standard legal work or £300 cashback.
Andrew Asaam, director of mortgages at Virgin Money, said: “It’s great news for landlords with smaller deposits that a well-known and trusted lender is entering this segment of the market. By extending our maximum lending age on buy-to-let, we’re giving our landlords greater flexibility with how they manage their investments. These improvements demonstrate our commitment to improving choice for customers in the buy-to-let market.”
