Virgin Money launches portfolio buy-to-let lending
- Portfolio landlord applications will now be accepted from landlords with up to ten mortgaged properties
- Buy-to-let remortgage landlords will benefit from free basic valuations and either free standard legal work, or cashback
- Intermediaries will have access to eTech’s buy-to-let hub
Virgin Money has enhanced its buy-to-let proposition and will accept buy-to-let applications from portfolio landlords from 25 June.
Applications from portfolio landlords with a maximum of ten mortgaged buy-to-let properties, and an unlimited number of mortgage free properties, will now be accepted up to a maximum exposure of £3 million, or five properties mortgaged with Virgin Money.
In addition, the maximum loan term has been increased to 35 years from 25 years and free basic valuations are available on all buy-to-let remortgage applications with a choice of either free standard legal work or cashback.
Virgin Money has also partnered with award-winning property risk software developer eTech1. eTech will provide its online buy-to-let hub, offering brokers an efficient, streamlined process to submit a client’s portfolio details.
Andrew Asaam, Director of Mortgages at Virgin Money, said: “We’re delighted to announce our launch into the portfolio landlord market and especially pleased to be partnering with eTech. Harnessing their technology to facilitate portfolio submissions will deliver a fantastic process for our mortgage brokers and complement our overall intermediary service.”
Full details of Virgin Money’s mortgage product range is available at www.virginmoney.com Opens in a new window
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About Virgin Money
- Virgin Money offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to customers across the UK.
- 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 shareholders.
- More than 13,900 charities have registered with Virgin Money Giving and, by the end of 2017, over £600 million had been donated to charities through the service since its launch in 2009, resulting in an estimated £19 million more donated to charities because of its not-for-profit model.