By using this website, you agree to our use of cookies to enhance your experience.


Virgin Money eases stress test rate for buy-to-let mortgages

Virgin Money has announces changed to the stress test rates used when assessing affordability for buy-to-let mortgages, which will please some of those calling for a rethink to what many people view as the anachronistic way mortgage applications are stress tested. 

In a bid to allow more consumers to access the market, Virgin Money has reduced the interest stress test rate from 5% to 4.5% on fixed rate products of five years or more. The required rental cover remains at 145%.

Aside from the rethought and rejigged stress test criteria, rates on Virgin’s buy-to-let remortgages with no additional borrowing has also changed, having been cut from 5.5% to 5% at 125% of rental income.


Sarah Green, director of intermediary mortgages at Virgin Money, commented: “In line with the market we are offering reduced stress test rates across several of our products which demonstrates our ongoing commitment to supporting our intermediary partners and the buy-to-let market.”

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.


Please login to comment

MovePal MovePal MovePal
sign up