What we're looking for
Portfolio landlord lending at a glance
Criteria we accept:
- Up to 75% LTV
- £1m maximum loan amount
- Up to 5 buy-to-let mortgages with Virgin Money group, amounting to up to £3m in total
- Up to 10 mortgaged buy-to-lets in total, across any lender, including any in an SPV
- Background portfolio - up to 75% LTV in total, and rent must cover its mortgage payments by 135%, stressed at 5%
- Up to 5 buy-to-lets in the same postcode
Like for like remortgages
We've lightened up our lending limits to make remortgages with no additional borrowing easier
No background portfolio limits
No maximum number of buy-to-lets. No postcode restrictions. And no LTV restrictions on background portfolios either.
Less rental cover
Reduced background portfolio rental cover to 125%, stressed at 5%.
Easier admin
No need for a business plan and cashflow document, and we'll let you know if we need a property schedule.
Rental cover test
Use the highest stress rate that applies to check your case meets our test
Purchase or remortgage with additional borrowing
Interest cover ratio
125% or 145%
125% basic / 145% higher or additional tax payers
Stress rate: 5+ year fixed
4.5% or pay rate +1%
Stress rate: any other product
5.5% or pay rate +2%
Remortgage with no additional borrowing
Interest cover ratio
125%
Stress rate: all products
5% or pay rate +1%
Ready to apply?
If you've got everything you need, apply through VMO or whatever platform you prefer
Background portfolio
If it's a purchase or remortgage with additional borrowing, download and submit these documents when applying
Business plan and cashflow Link opens in a new windowProperty schedule Link opens in a new window
How to use our BTL Hub
Register your firm, link to Virgin Money, then upload property schedules
Our BTL Hub is provided by our partner CoreLogic. Only one person from your firm needs to register, then you can add other users and submit property schedules.
Just remember to link your firm to Virgin Money after you register.
View BTL Hub Guide Link opens in a new window