BTL mortgage gets rate decrease | Product News - Moneyfacts

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BTL mortgage gets rate decrease

BTL mortgage gets rate decrease

Category: Buy To Let
Date: 17/02/2015

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 It is now over 6 months old so the content may be out of date.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 reduced the rates of selected fixed buy-to-let mortgages, enabling its three-year deal to improve its competitiveness in the sector and earn an 'excellent' review.

The basics…

This three-year mortgage has received a reduction of 0.36% and now has a competitive rate of 2.99% fixed until 1.5.18. It is available at a loan-to-value (LTV) of 60% and has a £1,094 fee.

The finer details…

The mortgage is available to second-time buyers and remortgagors with a 40% deposit. All borrowers can benefit from a generous incentive package of a £500 rebate upon completion.

Flexible repayment options are offered, with both overpayments and payment holidays allowed provided certain conditions are met.

Why we like it…

This buy-to-let deal was already a Moneyfacts best buy, but this latest rate decrease has boosted its attractiveness. Borrowers are likely to find the enticing incentive package and flexible repayment options just as appealing as the rate, which allows this mortgage to maintain a coveted place in the Moneyfacts charts.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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