Virgin BTL mortgages

[layercake]

Hi guys

I cannot find any info on the max LTV for these loans, i have been told by a broker longer the fixed term ie 5 years the max LTV is 75% shorter the term less I can get? Just want to make sure I am getting the right info from the broker and best deal

thanks

[SunsetZed]

I think 75% is their standard but no idea if that varies for shorter than 5 year terms, I don' t remember hearing that in the past when I looked at them.

https://uk.virginmoney.com/virgin/mortgages/portfo...

[Sarnie]

layercake said:

Hi guys

I cannot find any info on the max LTV for these loans, i have been told by a broker longer the fixed term ie 5 years the max LTV is 75% shorter the term less I can get? Just want to make sure I am getting the right info from the broker and best deal

thanks

" i have been told by a broker longer the fixed term ie 5 years the max LTV is 75% shorter the term less I can get?"

I'm not really sure what you are asking?

[layercake]

Sarnie said:

layercake said:

Hi guys

I cannot find any info on the max LTV for these loans, i have been told by a broker longer the fixed term ie 5 years the max LTV is 75% shorter the term less I can get? Just want to make sure I am getting the right info from the broker and best deal

thanks

" i have been told by a broker longer the fixed term ie 5 years the max LTV is 75% shorter the term less I can get?"

I'm not really sure what you are asking?

Sorry the question is about the max LTV on different fixed term mortgages, i have been told to get the 75% LTV i have to get a 5 year fixed product, if go for say a 2 year fixed it will be less than the 75% If this is based on rental income and secured on the property value and equity i don't see how they can offer less

[Sarnie]

layercake said:

Sorry the question is about the max LTV on different fixed term mortgages, i have been told to get the 75% LTV i have to get a 5 year fixed product, if go for say a 2 year fixed it will be less than the 75% If this is based on rental income and secured on the property value and equity i don't see how they can offer less

Some lenders lower their stress rates on five year fixed rates, so you can borrow more.........I think this is what the broker is trying to tell you, perhaps not very well?

The VM calculator specifically asks;

"Is the Product fixed for 5 years or longer?
Yes
No
Unknown"

......because the stress rates differ.........VM Calculator is here;

https://intermediaries.virginmoney.com/tools/buy-t...

Hope that helps

[layercake]

Many thanks, for that, yes i think that was what they were trying to explain

[Sarnie]

layercake said:

Many thanks, for that, yes i think that was what they were trying to explain

No problem at all, good luck!