Innovative 10 year BTL and 15 year residential mortgages launched

This week sees the launch of 15 year fixed rates for residential mortgages.

Launched by Virgin Money, this long term fixed rate is a great option for rate security against an uncertain backdrop, and clearly for those who have no intention to move in that time frame.  Of course this won’t be the right solution for everyone, but it is however an excellent solution for cautious residential mortgage borrowers who want to opt for sub 3% very long term fixed rates (under 75% LTV) and at 3.75% for a full 90%LTV this also represents excellent pricing too.

For Buy To Let borrowers, there is a one off arrangement fee, a fixed rate of 3.99% and with flexible features too, and this could be secured for a 10 year term, at 75%LTV!.

The new range of Buy-to-Let mortgages include:

• 7-year fixed rate at 60% LTV at 2.36% with £1,995 product fee
• 7-year fixed rate at 75% LTV at 3.24% with £995 product fee
• 10-year fixed rate at 60% LTV at 2.46% with £1,995 product fee
• 10-year fixed rate at 75% LTV at 3.99% with no product fee

Residential mortgage range:

• 15-year fixed rate at 65% LTV at 2.55% with £995 product fee
• 15-year fixed rate at 65% LTV at 2.89% with no product fee
• 15-year fixed rate at 75% LTV at 2.75% with £995 product fee
• 15-year fixed rate at 75% LTV at 2.99% with no product fee
• 15-year fixed rate at 90% LTV at 3.75% with no product fee

The products have the same benefits as Virgin’s shorter-term range including over payments of up to 10% per annum without penalty, payment holidays and portability.

All products are subject to eligibility and matching criteria.  For quotes, product details and personalised advice and recommendations, please contact me using the form below.