Virgin Money improves buy-to-let rates by up to 0.5%

by Aaron Strutt

Jun 23 2014

Virgin Money has improved its buy-to-let mortgage rates by up to 0.5% as the lender looks to increase the amount of money it lends. 

There is a host of lenders offering particularly good buy-to-let mortgages and they aren’t a huge amount more expensive than some of the residential deals. 

Platform, the broker lending arm of The Co-operative Bank, offers one of the lowest two-year fixes at 2.59% and it has a £1,999 fee.

Royal Bank of Scotland (RBS) and NatWest also have a two-year fix at 2.65% (4.6% APR) with a £1,995 arrangement fee. Both rates require landlords to provide a 40% deposit.

RBS and NatWest offer excellent buy-to-let five-year fixes at 3.95% (4.8% APR) with £1,995 arrangement fees. Once again, they require a 40% deposit. 

After the fixed period, the mortgages revert to the lenders standard variable rate. RBS and NatWest's is currently 4.5% and Platform's standard varibale rate is 5%. 

For help to secure a buy-to-let mortgage, call Trinity on 020 7016 0790.