Virgin Money is now accepting buy-to-let applications from portfolio landlords.
Applications from portfolio landlords with a maximum of 10 mortgaged buy-to-let properties, and an unlimited number of mortgage free properties, will now be accepted up to a maximum exposure of £3 million, or five properties mortgaged with Virgin Money.
In addition, the maximum loan term has been increased to 35 years from 25 years and free basic valuations are available on all buy-to-let remortgage applications with a choice of either free standard legal work or cashback.
Virgin Money has also partnered with property risk software developer eTech. eTech will provide its online buy-to-let hub, offering brokers an efficient, 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.”