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7 Day Specials for BTL Mortgages with Virgin Money

Journalist: Justin Moy, Contributing Editor

ended 31. August 2023

Virgin have just announced another round of their 7 day specials, but for the Landlord clients in support of their recently announced improvements to affordability tests.

BTL Purchase & Remortgage Exclusives - 7 Day Special with £1,495 fee, free valuation and £700 cashback*

NEW 65% LTV 2 Year Fixed Rate at 5.99%.
NEW 75% LTV 2 Year Fixed Rate at 6.36%.
NEW 60% LTV 5 Year Fixed Rate at 5.50%.
NEW 75% LTV 5 Year Fixed Rate at 5.75%.
NEW Portfolio 60% LTV 2 Year Fixed Rate at 6.50%.
NEW Portfolio 75% LTV 2 Year Fixed Rate at 6.66%.
NEW Portfolio 60% LTV 5 Year Fixed Rate at 5.80%.
NEW Portfolio 75% LTV 5 Year Fixed Rate at 6.05%.
 

* These 7 Day Special Exclusives are available until 8pm Thursday 7 September.
BTL Exclusive deals with £2,195 fee, free valuation and free legals

NEW 75% LTV 2 Year Fixed Rate at 5.88%.
NEW 75% LTV 5 Year Fixed Rate at 5.52%.
Core BTL Purchase and Remortgage Fixed Rate fee-savers

NEW 75% LTV 2 Year Fixed Rate at 6.60%.
NEW 75% LTV 5 Year Fixed Rate at 5.88%.
 

We’ve also made these changes:
Remortgage Exclusives with free valuation and £250 cashback

60% LTV 2 Year Fixed Rate fee-saver has been reduced by 0.03% at 6.33%.
Product Transfer

Selected fixed rates have been reduced by up to 0.05%, from 5.18%.

  • Is this more good news for Landlords, when combined with their earlier news on Affordability? 
  • Do these 7-day special offers actually work for borrowers and brokers?
  • What other observations do you have?

All comments really appreciated, nice to have some good news to report :)

 

 

2 responses from the Newspage community

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Editor
Justin Moy
Managing Director at EHF Mortgages
Someone has definitely woken up at Virgin Money and wants to achieve their lending targets! - These improved products when combined with the enhanced ICR calculation are two small cheers for landlords today. This is a time-limited set of products, so engage with your broker to check availability and ensure your paperwork is in order. Thanks Virgin for your positivity today!
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Editor
Riz Malik
Independent Financial Adviser at R3 Wealth
The availability of more buy-to-let deals with fixed fees is always welcome as is the improved revision to stress testing. Virgin has highlighted that its door is open to landlords as opposed to other lenders who seem to have shut up shop and run in the opposite direction. Lenders compete on rate and criteria. Today, Virgin has come out of the gates competing on both.