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TODAY'S OTHER NEWS

Virgin Money relaunches BTL deals up to 80% LTV

Virgin Money has launched a wide range of new products, with lending up to 80% loan-to-value (LTV) available on buy-to-let cases. 

Virgin Money announced at the start of April that it was no longer accepting any new buy-to-let or residential purchase mortgage applications.     

The lender also capped LTV for its remaining product lines, with BTL remortgages at 55% LTV.

The decision was made because valuers could no longer carry out physical valuations. 

But the lender has decided to withdraw the temporary limits they had placed on loan sizes and property values, which is why it has returned to previous maximums, with standard buy-to-let deals returning at up to 80% LTV or 75% LTV for portfolio landlords.

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