Buy To Let Date:
Virgin Money has increased the rebate on its five-year fixed buy-to-let mortgage as well as reducing its rate by a significant 0.41%. As a result, it has earned an outstanding rating.
This mortgage now has a competitive rate of 3.28% fixed until 1.9.21. It is available at a loan-to-value (LTV) of 75% and has a fee of £1,995.
Second-time buyers and landlords who are looking to remortgage their rental property are welcome to apply. All borrowers can benefit from a generous and newly-improved rebate of £750 as well as the option to make overpayments and take payment holidays, provided certain conditions are met.
By cutting the rate significantly and boosting the size of the rebate, Virgin Money has made this mortgage a deal to be reckoned with. Landlords will no doubt appreciate the lower monthly repayments as well as the cash back in their pocket from the rebate, while those who want to have greater flexibility over their repayments will also be satisfied by the repayment options. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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