Virgin Money has launched a buy-to-let mortgage at a two-year fixed rate of 1.59 per cent a year available as of today (3 January).
The mortgage has a loan-to-value rate of 60 per cent, £1,995 product fee and £500 cashback.
Alongside the new buy-to-let product, Virgin Money also launched a two-year fixed rate 2.84 per cent residential mortgage.
The latter has a 90 per cent LTV, no product fee and £1,000 cashback.
Virgin also announced a five-year fixed rate up to 65 per cent LTV at 1.89 per cent per annum.
This morgage comes with a £995 fee, £300 cashback for purchases, free valuation and legal fees for remortgage.
The firm also launched a Help to Buy Equity five-year fixed rate up to 75 per cent LTV now at 2.59 per cent, with no product fee, £500 cashback.
The new mortgages form part of what Virgin has called its "First Start" campaign.
Peter Rogerson, Virgin Money’s commercial director for mortgages, said the residential products offered "competitive rates to help homebuyers get onto the property ladder" and "support those looking to move home", while the buy-to-let was "a great deal for landlords".
james.fernyhough@ft.com
