News

Improvements to our BTL mortgage range

15 January 2016

On Friday 15 January, we introduced new BTL Intermediary Exclusive products, new BTL 50% LTV remortgage deals and new BTL 75% LTV Stamp Duty Cashback purchase deals. We also made reductions to some of our existing BTL mortgage deals. 

Summary of Changes:

Intermediary Exclusives:

New BTL deals available to purchase and remortgage customers with £500 cashback, including:

  • 2 Year Fixed Rate at 2.09% up to 60% LTV with a £1,995 fee 
  • 2 Year Fixed Rate at 2.97% up to 75% with a £995 fee
  • 3 Year Fixed Rate at 2.69% up to 60% LTV with a £1,995 fee
  • 3 Year Fixed Rate at 3.69% up to 75% LTV with a  £995 fee
  • 5 Year Fixed Rate at 3.64% up to 70% LTV with a £1,995 fee
  • 2 Year Tracker Rate at 2.54% up to 75% LTV with a £995 fee

New Stamp Duty Cashback BTL deals available to purchase customers only, with £1,500 cashback, including:

  • 75% LTV 2 Year Fixed Rate at 2.94% with a £1,995 fee (min loan size £94k)
  • 75% LTV 5 Year Fixed Rate at 3.79% with a £1,995 fee (min loan size £94k)

For properties up to £200,000 the £1,500 cashback will cover the current Stamp Duty costs (before changes are introduced on 1 April). For properties valued over £200,000, the cashback could contribute to Stamp Duty costs or be used by borrowers to support any other costs involved in purchasing a new property.

New 50% LTV BTL deals available to remortgage customers only, with £500 cashback, including:

  • 2 Year Fixed Rate at 2.02% up to 50% LTV with a £1,995 fee
  • 2 Year Tracker Rate at 1.75% up to 50% LTV with a £1,995 fee
  • 5 Year Fixed Rate at 3.09% up to 50% LTV with a £1,995 fee

Core range:

  • 2 Year Fixed Rate reduced to 2.54% up to 75% LTV with a £1,995 fee and £500 cashback
  • 2 Year Tracker Rate reduced to 2.09% up to 60% LTV with a £995 fee and £500 cashback

Additional Information:

All other product features remain unchanged.

Our Intermediary Exclusive products are available to intermediaries registered with Mortgage Clubs and Networks appointed to Virgin Money’s National Account panel. 

For full details of our new range, please view our latest Mortgage Update

 

Print full article
Back to News