Virgin Money confirm support for buy-to-let portfolio...

Virgin Money is now accepting buy-to-let portfolio landlord applications, ensuring that customers who have four mortgaged rental properties or more are well supported.

In what has been an unprecedented period of change for the buy-to-let market, Virgin remains committed to the sector and will now accept applications from portfolio landlords with up to 10 mortgaged buy-to-let properties, and an unlimited number of mortgage free properties, up to a maximum exposure of £3m, or five properties mortgaged with Virgin Money.

Virgin has also increased the maximum loan term from 25 to 35 years, while free basic valuations are now available on all buy-to-let remortgage applications with a choice of either free standard legal work or cashback.

Virgin Money is also attempting to make it easier for landlords to secure mortgage funds by partnering with property risk software developer eTech, with a view to providing an online buy-to-let hub, providing brokers with an effective, streamlined process to submit a client’s portfolio details.

Andrew Asaam, director of mortgages at Virgin Money, said: “We’re delighted to announce our launch into the portfolio landlord market and especially pleased to be partnering with e-Tech.

“Harnessing their technology to facilitate portfolio submissions will deliver a fantastic process for our mortgage brokers and complement our overall intermediary service.”