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Virgin Money cuts buy-to-let rates

Virgin Money cuts buy-to-let rates

Virgin Money has announced a selection of rate cuts across its main buy-to-let mortgage range in addition to its core residential products.

Virgin's new buy-to-let rates include a two-year fixed rate up to 70% loan-to-value (LTV) reduced to 2.09% with a £1,995 product fee and £500 cash-back, as well as a five-year fix at 3.24% to 70% LTV, subject to a £995 product fee and £500 cash-back.

Its two-year buy-to-let tracker now starts at 2.29% up to 70% LTV, and is also subject to a £995 product fee and £500 cash-back.

Peter Rogerson, Virgin Money's commercial director for mortgages, commented: "The reductions we have made to our range ensure that we continue to offer attractive options for purchase and remortgage customers looking for residential and buy-to-let loans at a range of different deposit levels.

"We think these products will be well-received by the market which remains upbeat, as reflected in our recent poll of intermediaries where nearly 80% said they expect the mortgage market to grow in 2017."


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