Virgin Money buy to let mortgage rates fall.

Virgin Money has adjusted the prices on several of its products, including its buy-to-let fixed range. The adjustments are:

• For up to 70% LTV for a 2 year fix, the mortgage rate has been lowered to 2.09%.
• For up to 70% LTV for a 5 year fix, the mortgage rate is now 3.24%. 

A product fee is applicable for both fixes but cashback is also offered as an added incentive.

Buy-to-let mortgage rates have reached historic lows and are aimed at encouraging would-be landlords to lock themselves in to a low rate now, making repayments very affordable. For existing landlords, the rates that are currently available means that now could be the ideal time to reassess their present deal, and find one that is more up-to-date.

Leaving the decision to apply for a new deal until later could run the risk of rates increasing, which may affect the level of profitability as monthly repayments could be significantly higher.

Deal Direct are regulated to offer independent mortgage advice but not general financial advice. Therefore, if you wish to discuss the suitability of property as a viable investment, we urge you to contact an independent financial adviser. 

Please note: 

Buy to let mortgage applications from:

• applicants whose intention is to benefit from house price growth
• applicants whose intention is to benefit from rental income
• applicants who are letting to buy

will be treated as normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.

For the latest rate reductions on buy-to-let deals, and free, impartial advice, contact Deal Direct. 

Call us today on 0800 048 8828.