Virgin Money has increased the maximum buy-to-let lending age to 85 years.
At the same time the lender has launched 80% loan-to-value mortgages, which are a 2-year fix at 3.45% and a 5-year fix at 3.61%, both to 80% LTV with a £1,995 fee.
For loans bigger than 75% LTV, the maximum loan size is £350,000.
Andrew Asaam, drector of mortgages at Virgin Money, said: “It’s great news for landlords with smaller deposits that a well-known and trusted lender is entering this segment of the market.
“By extending our maximum lending age on buy-to-let, we’re giving our landlords greater flexibility with how they manage their investments. These improvements demonstrate our commitment to improving choice for customers in the buy-to-let market.”
All buy-to-let purchase applications are available with £500 cashback. Free basic valuations are available on buy-to-let remortgage applications with a choice of either free standard legal work or £300 cashback.