Virgin Money has reduced the rate of its two-year tracker buy-to-let mortgage by 0.10%, boosting its competitiveness and securing an 'excellent' rating.
This deal now has a variable tracker rate of 2.49% until 1.9.17, cementing its place in the Moneyfacts charts. It is available at a loan-to-value (LTV) of 60% and has a fee of £1,094.
This mortgage is for second-time buyers and those looking to remortgage their rental property. All borrowers can benefit from a generous incentive package of a £500 rebate upon completion.
Both overpayments and payment holidays are permitted with this mortgage, provided certain conditions are met, giving borrowers some added repayment flexibility.
Landlords on the hunt for a competitive tracker mortgage are likely to be interested by this latest rate decrease. Not only does this deal now boast an even more competitive rate, but it also possesses a generous incentive package and considerable repayment flexibility.
Moneyfacts rating: Excellent
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