Virgin Money is set to launch new buy-to-let (BTL) Exclusives and reduce rates on a number of existing mortgage products as of tomorrow, Wednesday 15th May.
The lender is launching a new 60% loan-to-value (LTV) 5-year fixed rate with £2,195 fee at 4.67%, as well as a new 60% LTV BTL Portfolio 5-year fixed rate with £2,195 fee at 4.87%.
In addition, a new 75% LTV £500,000 plus Fix and Switch residential remortgage rate with £1,495 fee will also be launched at 5.24%.
Virgin’s 75% LTV BTL 5-year fixed rate with £2,195 fee will be reduced by 0.05% to 4.72%, and its 75% LTV BTL Portfolio 5-year fixed rate with £2,195 fee will be reduced by 0.05% to 4.92%.
All of the lenders’ buy-to-let product transfer fixed rates will also see a reduction of 0.10%, starting from 4.51%.
Lastly, the maximum loan size on Virgin’s Fix and Switch residential remortgage 75% LTV with £1,495 fee at 5.14%, will be reduced to £500,000.
The lender has urged brokers submitting applications for existing products to do so by 8pm today, Tuesday 14th May.
