Virgin Money caps its maximum buy-to-let portfolio limit
Virgin Money has reduced the number of buy-to-let properties and the total outstanding mortgage balance borrowers can have with the bank.
The maximum number of buy-to-let properties landlords can have with Virgin Money has been reduced from ten to four.
The total exposure on all mortgages across buy-to-let properties held with the bank has also been lowered from £3 million to £2 million.
In a statement, Virgin said the changes were to reflect its target amateur landlord customer and to support the development of its proposition.
Aaron Strutt, product manager at Trinity Financial, says: “Virgin has some very competitive rates and they still have an attractive proposition particularly if you are looking to purchase a few properties. They will still accept clients with an unlimited amout of buy-to-let’s with other lenders.”
The changes will be implemented from Wednesday 8 July and will apply to all new applications made on, or after, this date.
For help to secure a buy-to-let mortgage, call Trinity on 020 7016 0790
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
