In recent news, Virgin Money, a leading provider of financial services, has announced revisions to its residential and buy-to-let mortgage products. The changes, which are set to take effect on April 1st, are designed to make the mortgage process more accessible and affordable for customers.
The revisions include a reduction in the minimum loan size for residential mortgages from £75,000 to £50,000. This will allow more people to access mortgages and purchase their own home. Additionally, Virgin Money has reduced the minimum loan size for buy-to-let mortgages from £100,000 to £75,000. This will make it easier for people to invest in rental properties.
Virgin Money has also made changes to its interest rates. The new rates are designed to be more competitive and offer customers better value for money. For residential mortgages, the rate has been reduced from 3.99% to 3.69%. For buy-to-let mortgages, the rate has been reduced from 4.19% to 3.89%.
The changes are part of Virgin Money’s commitment to making mortgages more accessible and affordable for customers. The company is also introducing a new online mortgage calculator that will allow customers to compare different mortgage products and find the one that best suits their needs.
Overall, the revisions to Virgin Money’s residential and buy-to-let mortgage products are a welcome change that will make it easier for customers to access mortgages and purchase their own home or invest in rental properties. The new interest rates and online mortgage calculator will also make it easier for customers to compare different products and find the one that best suits their needs.