Virgin Money launches buy-to-let exclusives

The lender announced the launch of new buy-to-let exclusives alongside changes to its residential range.

Related topics:  Finance,  Landlords,  mortgages,  BTL
Property | Reporter
11th October 2023
To Let 690

Virgin Money has announced that it has enhanced its buy-to-let and residential product ranges with new purchase and remortgage exclusives.

Virgin's buy-to-let range will see new purchase and remortgage exclusives with a £2,195 fee reduced by up to 0.21%. Two-year fixed rates now start from 5.44% at 50% LTV and 5.49% at 60% LTV, while five-year fixes have reduced to 4.99% and 5.01% respectively.

In addition, exclusive portfolio buy-to-let fixed rates with a £2,195 fee will be reduced by up to 0.26%.

Buy-to-let purchase and remortgage exclusives with a 3% fee have been reduced by 0.15% - with two-year fixes now starting at 4.72% at 60% LTV and 4.77% at 75% LTV. Five-year fixes are down to 4.82% and 5.12% respectively. Portfolio rates have also decreased by 0.15%.

Residential

According to the lender, the new residential remortgage exclusives include two-year fixed rates from 5.40% at 60% LTV and 5.49% at 70% LTV. Five-year fixes have also launched and start at 4.95% up to 60% LTV and 4.98% up to 70% LTV. There is also a seven-year fix at 60% LTV available at 4.95%. All products carry a £995 fee and £250 cashback.

Reduced two-year fixed rate purchase exclusives with a £1,295 fee now start from 5.34% at 65% LTV, 5.67% at 85% LTV, and 5.70% at 90% LTV. A five-year fixed rate at 90% LTV has also reduced to 5.22%.

Fee-free purchase exclusives have been trimmed by up to 9bps, with two-year fixed rates now starting from 5.58% at 65% LTV, 5.91% at 85% LTV and 6.01% at 90% LTV. Five-year fixes have reduced to 5.23% at 85% LTV and 5.40% at 90% LTV.

Purchase exclusive £1m+ fixed rates will be reduced by 0.05% and selected product transfer fixed rates will be reduced by up to 0.14%, with rates starting from 4.99%.

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