Peter Rogerson, savings and mortgages director at Virgin Money, said: “Buy-to-let remains a key segment of the mortgage market for Virgin Money. We are making these reductions while retaining our offer of £500 cashback across the entire buy-to-let range.”
■ Two-year fixed rates have been reduced by up to 0.16 per cent and are available from 2.89 per cent, with a 2.5 per cent fee.
■ The three-year BTL fixed rates have been reduced by up to 0.5 per cent, and are available from 3.59 per cent with a £1,995 fee.
■ Five-year fixed rates have been reduced by up to 0.21 per cent, and are available from 3.95 per cent with a £1,995 fee.
■ The two-year trackers in the buy-to-let range have been reduced by up to 0.15 per cent, available from 2.69 per cent (2.5 per cent product fee).
The revised product rates are available now.
Andrew Dawson, IFA with Truro-based Coast To Coast Financial Planning, said, “Any reduction in rates is a good thing – what Virgin Money is doing should be welcomed.”