Virgin Money will launch a range of landlord exclusives and trim buy-to-let product transfer rates from tomorrow (15 May).
The high street lender’s changes cover:
Exclusives
- 60% LTV BTL five-year fixes, with a £2,195 fee, launch at 4.67%
- 60% LTV BTL portfolio five-year fixes, with a £2,195 fee launch at 4.87%
- 75% LTV £500,000-plus Fix and Switch residential remortgage deals, with a £1,495 fee launch at 5.24%
- 75% LTV BTL five-year fixes, with a £2,195 fee, reduced by 5 basis points to 4.72%
- 75% LTV BTL portfolio five-year fixes, with a £2,195 fee, reduced by 5bps to 4.92%
Product transfers
- BTL fixes will be reduced by 10bps, starting from 4.51%
The lender adds that from 8pm today, the maximum loan size on Fix and Switch residential remortgage at 75% LTV, with £1,495 fee at 5.14%, will be reduced to £500,000 from £1m. The business has previously launched a new version of this product for loan amounts between £500,001 to £1m at 5.24%.
