At Virgin Money, we want to make doing business with us as easy as possible.
So we’ve created this decision tree to help you when submitting Buy-to-Let (BTL)
mortgage applications to us. You can use this to work out whether your client’s
application is Buy-to-Let or Consumer Buy-to-Let (CBTL).
START
Does your client or their relative intend to live
in the property during the term?
YES
Regulated
Mortgage
contract
Is your client buying a new BTL property?
YES
BTL
Does your client own any other let properties?
YES
BTL
Since becoming the owner of the property
has your client or their relatives lived there?
YES
CBTL
Have you received any additional
information which makes you believe that
your client is not taking out the mortgage
predominantly for a business purpose?
YES
CBTL
NO
NO
NO
NO
BTL
NO
For example, the customer is looking to
raise capital for themselves which amounts
to 50% or more of the total loan amount, for
instance the property is unencumbered and
the customer is raising capital to pay for a
wedding or a car.
Please note each applicant should be assessed separately. If any applicant meets
the criteria of CBTL, then the loan, subject to Offer, will be a CBTL.
This decision tree should not be solely relied upon for your understanding. For
more detailed information on any aspect of CBTL, please visit the FCA website.
WANT TO
KNOW MORE?
If you have any questions, please
get in touch with your dedicated
Business Development Manager,
who will be happy to help.
For professional intermediary use only. This is not a financial promotion and should not be displayed or used as such. Virgin Money plc, Registered Office: Jubilee House, Gosforth,
Newcastle upon Tyne NE3 4PL. Registered in England and Wales (Company No. 6952311). Virgin Money plc is authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority
VM13019 valid from (09.02.16)
.