Virgin Money launches leading buy-to-let remortgage rates
Virgin Money for Intermediaries has launched a range of leading buy-to-let remortgage rates. Their two-year fix is particularly low at 2.65% and the five-year fix is more expensive at 3.79%.
Landlords will need a 40% deposit to access these rates and they both have £1,995 arrangement fees. There is also a £99 booking fee.
After the fixed period the mortgage reverts to Virgin’s standard variable rate, which is currently 4.99%. Both rates have 4.9% APR’s.
Aaron Strutt, product manager at Trinity Financial, says: “In order to keep the cost of switching lenders to a minimum, Virgin provides a free property valuation and legals service.”
Virgin Money will accept day one remortgages and allow capital raising up to 75% loan-to-vale. They also instruct the property valuation very quickly and have good processing times at the moment.
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