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Virgin Money launches portfolio buy-to-let lending

25/06/2018

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 mortgage pages for full terms and conditions.

  • 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

ENDS

Media Contacts

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

1eTech is the leading provider of mobile surveying and workflow management software for the UK mortgage and property services markets, delivering a range of integrated operational business management platforms that efficiently streamline workflow and data exchange.

NOTES TO EDITORS

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.
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.