Virgin Money unveils intermediary-only buy-to-let with cashback

Essex Home Finance
Virgin Money is launching intermediary exclusive buy-to-let mortgages for the first time.
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Virgin Money is launching intermediary exclusive buy-to-let mortgages for the first time.

The deals include £1,000 cashback, with options also available to portfolio customers. These had previously only been available to residential customers.

The lender has also reduced rates across both its longer term residential and buy-to-let mortgage range.

Changes include the following:

New Business:

Core Residential

  • Reduced 10 Year 65% LTV fixed rate £995 fee by 0.30bps to 1.95%
  • Reduced 10 Year 65% LTV fixed rate fee-saver by 0.50bps to 2.34%

Buy-to-let purchase exclusive with £1,000 cashback

  • Launch 2 Year 75% LTV fixed rate £1,995 fee at 1.91%
  • Launch 5 Year 75% LTV fixed rate £1,995 fee at 2.13%

Buy-to-let portfolio purchase exclusive with £1,000 cashback

  • Launch 2 Year 75% LTV fixed rate £1,995 fee at 2.01%
  • Launch 5 Year 75% LTV fixed rate £1,995 fee at 2.23%

Buy-to-let

  • Reduced 10 Year 60% LTV fixed rate £995 fee by 0.26bps to 2.43%
  • Reduced 10 Year 75% LTV fixed rate £995 fee by 1.06bps to 2.68%

Buy-to-let Portfolio

  • Reduced 10 Year 60% LTV fixed rate £995 fee by 0.26bps to 2.53%
  • Reduced 10 Year 75% LTV fixed rate £995 fee by 1.06bps to 2.78%

Product Transfer

Core Residential

  • Reduced 10 Year 65% LTV fixed rate fee-saver by 0.15bps to 2.34%

Buy-to-let

  • Reduced 10 Year 60% LTV fixed rate £995 fee by 0.16bps to 2.43%
  • Reduced 10 Year 75% LTV fixed rate £995 fee by 0.66bps to 2.68%

Original Article from Best Advice 06/05/2021

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Essex Home Finance

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Address : 8 Kingsdale Business Centre, Regina Road, Chelsmford, Essex, CM1 1PE

Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

Registered address: 1 High Street, Chelmsford, Essex, CM1 1BE.

Registered in England & Wales under number 10607263.

Your home may be repossessed if you do not keep up repayments on your mortgage.

We do not charge for Residential First Time Buyers, Residential Home Movers, Residential Remortgage, and all Product Transfers (Residential or Buy to Let).

There will be a fee for all Buy to Let Purchase and Buy to Let Remortgage cases. Typically our fee will be £149, payable on Offer. We will agree any fees with you before we proceed with your case.

There will be a fee for all Equity Release Mortgage cases. Typically our fee will be £695, payable on Offer. We will agree any fees with you before we proceed with your case.

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