Virgin Money has decrease its landlord and residential residence loan minimal time period to 5 years from 7.
The loan supplier tells brokers that their shopper’s “chosen time period has to lengthen past the preliminary product’s shut day.
“So, for example, if a shopper is wanting for a 5-calendar 12 months phrase, they might require to get a two, or 3-calendar 12 months services or products.”
In a restricted take notice to intermediaries, the financial institution provides that the shift “will provide prospects with far more mortgage selection”.
