Buy To Let 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.
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 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.
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
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