Virgin Money introduces exclusive offers for landlords, reduces product transfers – Mortgage Finance Gazette

Virgin Money will launch a range of exclusive offers for landlords from tomorrow (May 15), reducing transfer rates for buying and renting products.

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The major lender’s changes relate to:

Exclusive

  • 60% LTV BTL five-year fixes, with a £2,195 fee, launched at 4.67%
  • 60% LTV BTL portfolio with five-year fixes, with a launch fee of £2,195 at 4.87%
  • 75% LTV £500,000 plus Fix and Switch residential remortgage deals, with a launch fee of £1,495 at 5.24%
  • 75% LTV BTL five-year fixes, with a fee of £2,195, reduced by 5 basis points to 4.72%
  • 75% LTV BTL portfolio with five-year fixes, with a fee of £2,195, reduced by 5 basis points to 4.92%

Product transfers

  • BTL fixes are reduced by 10bps, starting at 4.51%

The lender adds that from 8pm today, the maximum loan size on Fix and Switch remortgages with an LTV of 75%, with a fee of £1,495 from 5.14%, will be reduced from £1 million to £500,000 . The company previously launched a new version of this product for loan amounts between £500,001 and £1 million at 5.24%.