Buy To Let Date:
Virgin Money has increased the rates of selected buy-to-let mortgages. However, its two-year tracker deal has retained its competitive edge and maintained its place among the Moneyfacts best buys.
This buy-to-let tracker mortgage now has a variable rate of 2.89% until 1.7.17, allowing it to rest comfortably among the best buys of its sector. It is available at a loan-to-value of 75% and has a comparatively low fee of £1,094.
The finer details…
This deal is available to second-time buyers and remortgagors with a 25% deposit. All borrowers can benefit from an incentive package of a £500 rebate upon completion.
Overpayments of up to 10% of the outstanding balance are permitted and it is also possible to take payment holidays, provided certain conditions are met.
Why we like it…
Despite the slight increase in rate, this mortgage is still a very competitive offer that is likely to attract landlords with the right deposit. The fee is also a low one for this sector, which will help to keep costs down. The £500 rebate upon completion is a definite sweetener, and helps to ensure this deal's continued place among the Moneyfacts best buys.
Moneyfacts rating: Excellent
For more detials on this product call 0845 287 0788
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