Virgin Money will be withdrawing all new business rental deals from today.
BTL fixes with a 3%, 2%, £2,195 and £995 fee, in addition to cost savings, will all be removed from the range.
However, the fixed BTL product transfer rates with a £3,995, £1.95 fee and cost savings all remain unchanged and start at 4.55%, 4.84% and 4.99% respectively.
Earlier this monthVirgin Money and Clydesdale Bank have announced that both will no longer offer new BTL mortgages.
Clydesdale’s new BTL products were withdrawn from sale in March and will not be reintroduced.
All new BTL loan applications should now be sent to The Mortgage Works, Nationwide’s BTL lender.
Elsewhere, Keystone Property Finance has increased interest rates on its two- and five-year fixed rate products.
Two-year rates have increased by 0.10% and now start from 3.49%, while five-year rates have increased by 0.15% to 5.24%.
Kensington says the increase is due to ongoing economic and geopolitical factors that have caused SWAP rates to rise.
Earlier today, Kensington and Molo announced that both would reduce prices on buy-to-let products.