BTL mortgage becomes more competitive | Product News - Moneyfacts

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BTL mortgage becomes more competitive

BTL mortgage becomes more competitive

Category: Buy To Let
Date: 16/05/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.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.

The basics…

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.

The finer details…

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.

Why we like it…

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

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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