Virgin Money offering super-cheap five-year fix buy-to-let rate

by Aaron Strutt

Nov 10 2019

Virgin Money for Intermediaries has launched a market-leading five-year fix buy-to-let mortgage.

The 1.78% rate has a £1,995 arrangement fee, and the maximum loan size is £1 million. Applicants will need a 40% deposit and have a minimum income of £25,000 to qualify.

After the fixed-rate period, the mortgage reverts to the lenders 5.19% standard variable rate and the APRC is 4.3%.

Aaron Strutt, product director at Trinity Financial, says: "The gap between the cheapest residential and buy-to-let mortgages have fallen recently and there are at least ten buy-to-let lenders are offering five-year fixed rates below 2%.

"If you are looking for a cheap buy-to-let mortgage there is a huge amount of choice at the moment. Many of our brokers are helping clients to remortgage onto cheaper buy-to-let deals as the lenders do not always provide competitively priced product transfer rates."

Are the lenders offering larger buy-to-let mortgages?

There is a selection of banks and building societies providing £750,000+ buy-to-let mortgages at incredibly low rates.

Call Trinity Financial on 020 7016 0790 to secure a mortgage