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Virgin Money, Vida Homeloans & United Trust Bank enhance propositions

Posted: 11/07/2018

In the last few weeks Virgin Money, Vida Homeloans & United Trust Bank have launched major product enhancements. An overview of each enhancement is included below. For more information, call our team on 01702 538 800 or arrange a call back.

 

Virgin Money now support portfolio landlord applications

  • Virgin’s buy to let mortgage range is available for portfolio landlords, with rates starting from 1.37%
  • The lender accepts up to 75% LTV on the property to be mortgaged
  • Will allow up to five buy to let mortgages with Virgin Money, or £3m, and up to 10 mortgaged properties across all lenders including this application
  • New buy to let incentive packages that offer free valuations for all remortgage customers plus a choice of either free standard legal work or cashback

If you haven’t registered with Virgin Money then click here – don’t forget to select Brilliant as your submission route.

 

Vida Homeloans launches joint borrower sole proprietor product and revamps Fee Saver residential mortgage range

Joint Borrower Sole Proprietor Mortgage

  • Available up to a maximum of 90% LTV for first time buyers
  • Can be combined with gifted deposits, the self-employed and a maximum of four applicants buying together, across the wide range of Vida’s Plus rates and specialist lending criteria including adverse
  • Vida’s ‘Helping Hand’ mortgage is aimed at assisting parents in getting their children onto the housing ladder without being on the title deeds and jointly owning the property. This means that no stamp duty surcharge is payable by parents
  • ‘Helping Hand’ is also an option for parents helping their children back onto the ladder or remortgaging after a major life event, such as a divorce

Fee Saver Residential Mortgage Range

  • Properties up to £500,000 now qualify for a free valuation and a significantly reduced £49 assessment fee
  • There are no product fees and standard legals are free on remortgages across the entire Fee Saver range

 

United Trust Bank increase second charge loan size and cut rates by up to 1%

  • BoE Lifetime Trackers now from +3.30%, 5 year fixed rates from 4.40%
  • Reductions of up to 1% across all loans under 75% LTV
  • All products retain no minimum credit score and no ERC’s
  • Maximum loan increased to £400k