Virgin Money has increased both the maximum age and maximum LTV available for its buy-to-let products.

The new buy-to-let products are two-year fixed rates at 80% LTV starting from 3.45% with £1,995 fee and five-year fixed rates at 80% LTV starting from 3.61% with £1,995 fee.

For loans greater than 75% LTV, the maximum loan size is £350,000.

In addition, the maximum lending age has been increased to 85 from 75 across all buy-to-let products.

All buy-to-let purchase applications are available with £500 cashback. Free basic valuations are available on all buy-to-let remortgage applications with a choice of either free standard legal work or £300 cashback.

Andrew Asaam, director of mortgages at Virgin Money, said: “It’s great news for landlords with smaller deposits that a well-known and trusted lender is entering this segment of the market.

“By extending our maximum lending age on buy-to-let, we’re giving our landlords greater flexibility with how they manage their investments.

“These improvements demonstrate our commitment to improving choice for customers in the buy-to-let market.”