Peter Rogerson, Virgin Money’s savings and mortgages director, said: “We reviewed our proposition after listening to feedback from our intermediary partners and believe the increase to 75 per cent loan-to-value will improve choice for those looking for a buy-to-let product in the market today.”
Cashback of £750 is available across Virgin Money’s core range of buy-to-let products excluding intermediary exclusives. All products are available from 14 March 2014.
|Products up to 75 per cent LTV|
|Two-year fixed rate at 4.15% with a £995 product fee|
|Two-year fixed rate at 3.74% with a £1,995 product fee|
|Three-year fixed rate at 4.89% with a £995 product fee|
|Five-year fixed rate at 4.55% with a £1,995 product fee|
|Two-year fixed rate at 3.35% with a 2.5% product fee|
|Two-year fixed rate at 4.09% with a £995 product fee|
David Whittaker, managing director of Mortgages for Business, Sevenoaks
“Virgin Money produced some well-priced products early in 2014, which proved popular and this is a welcome second step going to 75 per cent LTV.
“However, until the rent stress test is realigned, the reality is that the better quality properties will fail to get above 70 per cent - so we await further progress.”