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Virgin Money announces new buy-to-let mortgage exclusives

15/01/2016

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit our mortgages pages.

  • New Buy-to-let intermediary exclusives launched, starting from 2.02% at 50% LTV
  • Selected Buy-to-let mortgage rates reduced

Virgin Money has made a number of changes to its Buy-to-let mortgage range, introducing a new range of intermediary exclusives and reducing selected core rates. All products are available from Friday 15 January. The intermediary exclusive products will be available through intermediaries registered with Virgin Money.

Key changes to the Intermediary Exclusive Buy-to-let product range

  • New two-year fixed rate at 50% LTV at 2.02% (remortgage only, £1,995 product fee, £500 cashback)
  • New five-year fixed rate at 50% LTV at 3.09% (remortgage only, £1,995 product fee, £500 cashback)
  • New two-year fixed rate at 60% LTV at 2.39% (£995 product fee, £500 cashback)

Key changes to the core Buy-to-let product range

  • Two-year fixed rate at 75% LTV reduced to 2.54% (£1,995 product fee, £500 cashback)
  • Two-year tracker at 60% LTV reduced to 2.09% (£995 product fee, £500 cashback)

Peter Rogerson, Virgin Money's Commercial Director for Mortgages , said: "We continue to play our part in a healthy and vibrant mortgage market. We have begun 2016 with improvements across our mortgage range and these new Buy-to-let products offer landlords competitive rates, particularly for those with low-LTVs"

Virgin Money has also made changes to other selected products and full details of the mortgage product range are available at www.virginmoney.com.

ENDS

Media Contacts
Virgin Money Press Office
0191 279 4676
press.office@virginmoney.com

NOTES TO EDITORS

Early Repayment Charges – Buy-to-let

Following the fixed rate or tracker period, the loan will revert to Virgin Money’s Buy-to-Let Variable Rate (currently 4.99%) for the life of the loan. On Everyday products, an Early Repayment Charge will apply to the outstanding secured loan balance at the time of redemption. Any overpayments in excess of the 10% annual allowance will also be subject to the Early Repayment Charge.

About Virgin Money

  • Virgin Money provides savings, mortgages, credit cards, current accounts, pensions, investment and protection products
  • Virgin Money's business ambition is to make "everyone better off" – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to our shareholders
  • Virgin Money is the official sponsor of the London Marathon, the biggest annual one-day fundraising event in the world. Virgin Money has helped London Marathon runners raise over £¼ billion, including funds raised through Virgin Money Giving the not-for-profit online fundraising service, since 2010

Supplementary notes

  • The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit virginmoney.com/mortgages for full terms and conditions.
Virgin Money plc - Registered in England and Wales (Company No. 6952311). Registered Office - Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.