Consumer buy-to-let explained
Introduced by the Mortgage Credit Directive and expected to impact a small proportion of existing buy-to-let customers by offering some additional consumer protections, such as the Financial Ombudsman Scheme, depending on the customer's individual circumstances.
At Virgin Money, our entire buy-to-let mortgage product range is available to consumer buy-to-let customers. The standard buy-to-let lending criteria will also apply.
We will determine during the loan application process whether the loan is buy-to-let or consumer buy-to-let.
If you have any questions please contact us and we'll be happy to help.
How long is a mortgage offer valid for?
A mortgage offer is valid for 16 weeks. To see what mortgages we currently have on offer, including what your monthly payment could be, use our mortgage finder or call us to speak to one of our mortgage experts.
What valuation fee will I have to pay?
If you are buying a new home then you will have to pay for a valuation of the property.
Purchase Price | Valuation Report Fee | Homebuyers' Fee |
---|---|---|
up to £60,000 | £112 | £270 |
£60,001 - £100,000 | £132 | £311 |
£100,001 - £150,000 | £163 | £352 |
£150,001 - £200,000 | £188 | £398 |
£200,001 - £250,000 | £214 | £444 |
£250,001 - £500,000 | £275 | £510 |
£500,001 - £750,000 | £331 | £561 |
£750,001 - £1,000,000 | £377 | £612 |
£1,000,001 - £1,500,000 | £510 | £817 |
£1,500,001 - £2,000,000 | £663 | £1,021 |
£2,000,001 - £2,500,000 | £817 | £1,225 |
£2,500,001 - £3,000,000 | £970 | £1,531 |
Over £3,000,000 | By Negotiation | By Negotiation |
For residential remortgages on properties over £3m, Virgin Money will negotiate the cost of the Valuation Report with our suppliers. We will pay the first £970 of this fee. Any cost for the Valuation Report above this amount will be paid by the borrower.