Virgin Money has changed the stress test rates this week when assessing affordability for buy-to-let mortgages!

The interest stress test rate is being reduced from 5% to 4.5% on fixed rate products of 5 years or over. The required rental cover remains at 145%

Rates on buy-to-let remortgages with no additional borrowing will also change. This will change from 5.5% to 5% at 125% of rental income!