Virgin Money has announced an important product update for advisers. Virgin Money products and support with the lender, including same day payment on completion, is all available accessible through our direct to lender mortgage club. Contact us for more information.
ANNOUNCEMENTS
We’ve boosted our BTLs
Here’s some news that’ll have you de-stressing about Stress Rates. We’ve improved our buy-to-let affordability assessment – so more customers can get the loans they need.
Bigger, better buy-to-lets
Our Interest Cover Ratio (ICR) has been lowered to 125% for basic rate taxpayers. Plus, we’ve improved our Stress Rate calculations too, for both portfolio and non-portfolio landlords.
ICR
Stress Rate
NEW 7 DAY SPECIAL BTL EXCLUSIVES
Great news, we’ve launched new Virgin Money products, including a new range of 7 Day Special BTL Exclusives that are available until 8pm on Thursday 7 September.
Our new buy-to-let deals are launched alongside our newly improved BTL affordability policy. That includes a new 125% ICR for basic rate tax payers and lowered stress rates for fixed rates under 5 years.
BTL Purchase & Remortgage Exclusives – 7 Day Special with £1,495 fee, free valuation and £700 cashback*
- NEW 65% LTV 2 Year Fixed Rate at 5.99%.
- NEW 75% LTV 2 Year Fixed Rate at 6.36%.
- NEW 60% LTV 5 Year Fixed Rate at 5.50%.
- NEW 75% LTV 5 Year Fixed Rate at 5.75%.
- NEW Portfolio 60% LTV 2 Year Fixed Rate at 6.50%.
- NEW Portfolio 75% LTV 2 Year Fixed Rate at 6.66%.
- NEW Portfolio 60% LTV 5 Year Fixed Rate at 5.80%.
- NEW Portfolio 75% LTV 5 Year Fixed Rate at 6.05%.
* These 7 Day Special Exclusives are available until 8pm Thursday 7 September.
BTL Exclusive deals with £2,195 fee, free valuation and free legals
- NEW 75% LTV 2 Year Fixed Rate at 5.88%.
- NEW 75% LTV 5 Year Fixed Rate at 5.52%.
Core BTL Purchase and Remortgage Fixed Rate fee-savers
- NEW 75% LTV 2 Year Fixed Rate at 6.60%.
- NEW 75% LTV 5 Year Fixed Rate at 5.88%.
We’ve also made these changes:
Remortgage Exclusives with free valuation and £250 cashback
- 60% LTV 2 Year Fixed Rate fee-saver has been reduced by 0.03% at 6.33%.
Product Transfer
- Selected fixed rates have been reduced by up to 0.05%, from 5.18%.