Buy To Let Date:
Virgin Money has reduced the rate on its two-year fixed buy-to-let mortgage, earning it an 'excellent' rating as a result.
This mortgage now has a competitive fixed rate of 2.54% and is available at a loan-to-value (LTV) of 75%. A fee of £2,094 is payable.
This deal is available to second-time buyers and landlords who are looking to remortgage their rental property. An enticing incentive package of a £500 rebate accompanies this deal, and borrowers also have the ability to make overpayments and take payment holidays, provided certain conditions are met.
Landlords who are looking for a competitive short-term deal for their rental property are likely to view this latest update with interest. The rate cut has enhanced its competitiveness, and when coupled with the incentive package – which helps offset the fee - this is an attractive deal for those with the right deposit.
Moneyfacts rating: Excellent
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