Virgin Money has just announced reductions on their buy-to-let (BTL) mortgage rates.

Virgin Money has slashed rates on a range of their BTL mortgages, meaning you could be saving a decent chunk of cash on your monthly payments.

Here’s what you need to know:

BTL with a £995 Fee:

• They’ve lowered rates by up to 0.15% on selected BTL mortgages with a £995 fee, with rates now starting from a competitive 4.45%.

BTL Fee-Savers:

• Virgin Money has also reduced rates on their fee-saver BTL mortgages by up to 0.07%, with rates starting from 4.70%.

Exclusive BTL:

• Their exclusive BTL mortgage with a 75% loan-to-value (LTV) and a 2-year term, with a 1% fee, has seen a rate reduction of 0.10%, bringing the new rate down to 4.82%.

More Rate Cuts:

That’s not all! Here are some other rate reductions you need to know about:

• 60% LTV 5 Year with £2,195 fee: Reduced by 0.03% to 4.31%.
• 60% LTV 2 Year with 1% fee: Reduced by 0.08% to 4.69%.
• 60% LTV 5 Year with 3% fee: Reduced by 0.03% to 3.90%.
• 75% LTV 5 Year with 3% fee: Reduced by 0.03% to 3.90%.

Product Transfers:

Virgin Money has also lowered rates on their BTL product transfer mortgages, by up to 0.15%, with rates starting from 4.17%.

Time to Refinance?

These rate cuts could be a great opportunity for landlords looking to refinance their existing BTL mortgages or for those thinking about getting a new BTL mortgage. Make sure you check out the details of the offer and see if it’s a good fit for your needs.