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Starting March 21st, Virgin Money will be making changes to its mortgage loan (BTL) line.
From tomorrow, the lender will introduce BTL Exclusive Purchases and Remortgages with £300 cashback and a free valuation.
It will add a new two-year fixed rate of 65% of the value of the loan (LTV) with a £995 fee of 4.90% and an equivalent five-year fixed rate of 4.65%.
Meanwhile, Virgin Money will cut rates on its two- and five-year fixes from 60% LTV by 0.15% and 0.06%, respectively, to 4.82% and 4.60%. They charge £995.
Adjustments LTV 60% of the lessor’s portfolio selected by the lender will be reduced to 0.15%. It will also add 75% savings on LTV commissions starting from 4.88%.
For the residential core and exclusive range, the lender will reduce the five-year fixed fee of 95% LTV by 0.02% to 5.02%.
Selected fixed rates within the range will also be reduced to 0.10%.
In addition, individual product migration fixes will be reduced by 0.41%.
Virgin Money also said that from 20:00 tonight (March 20), individual fixed LTV rates of 85% of the lender’s core range will increase by 0.05%.
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