Virgin Money has made changes to lending policy by altering its buy-to-let stress rates.
For its 2-year fixed buy-to-let products, which start at 5.76%, the lenders’ stress rates will now begin at 6.76%.
For 5-year products which start at 5.32%, its stress rates will start from 6.32%.
Craig Calder, head of secured lending at Virgin Money, said: “A vibrant rental sector plays a key role in the wider mortgage environment and as such we have made changes to our Virgin Money buy-to-let mortgage lending policy.
“We continue to evolve our mortgage policy and these changes ensure that we are supporting landlords through an improved affordability assessment.”
