Mortgage
Virgin Money reduces landlord, resi minimum terms to 5 years – Mortgage Finance Gazette
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Virgin Money has cut its landlord and residential mortgage minimum term to five years from seven.
![Virgin-Money.jpg](https://wp-krypton.s3.amazonaws.com/wp-content/uploads/sites/3/2016/03/02104619/Virgin-Money.jpg)
The lender tells brokers that their client’s “chosen term has to extend beyond the initial product’s end date.
“So, for instance, if a customer is looking for a five-year term, they would need to take a two, or three-year product.”
In a short note to intermediaries, the bank adds that the move “will provide customers with more mortgage choice”.
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