Virgin Money and Precise unveil exclusive buy to let mortgages
In the run up to Christmas, both Virgin Money and Precise Mortgages will be offering special deals on their buy to let mortgage ranges.
Virgin Money’s range of new products, which is available exclusively through intermediaries, features buy to let mortgages at 75% loan to value, with rates starting at 2.59%.
The 2.59% rate applies to a two-year fixed mortgage with a £1,995 product fee and a two-year tracker with a £995 fee. Virgin has also launched a five-year fixed rate mortgage at 3.65% with a £1,995 fee.
At the same time, the lender has extended a current special offer, giving landlords £750 cashback on all its buy to let intermediary exclusives. These deals are available to both purchase and remortgage customers.
Peter Rogerson, Virgin Money's commercial director for mortgages, said:
"We are delighted to continue to support the mortgage market through the introduction of competitive new intermediary exclusives for the buy to let sector."
Precise Mortgages’ latest product launch features limited edition buy to let products, all with fixed fees.
The lender’s new range of 75% loan to value buy to let exclusives starts at 3.39%, with a two-year tracker mortgage, that comes with a £1,995 fee.
The range also includes: a 3.49% lifetime tracker deal with a fee of £2,495, a five-year fixed mortgage at 3.99% with a £1,995 deal and a two-year fixed mortgage at 3.69%, also with a fee of £1,995.
In addition, Precise Mortgages has increased the maximum tenancy term from 12 months to 36 months.
Alan Cleary, managing director of Precise Mortgages, said:
"The buy to let market is very competitive at the moment and these products will give significant savings to landlords. The introduction of a fixed product fee will also give mortgage intermediaries more choice especially for larger loans. Whilst these products are expected to be withdrawn by Christmas the change to the maximum tenancy term is permanent."
Mortgages for Business has direct access to both Virgin Money and Precise Mortgages.
To talk through how these rates might work for you please call our expert buy to let mortgage brokers on 0345 345 6788.
19th November 2015
