Bank says fresh 3% stamp duty on buy-to-let properties will not beget material impact on its trade after mortgages drive latest profit surgeVirgin Money has pushed back its expectations for a rise in UK interest rates by two years until 2018 and begun a feasibility study on launching current accounts.
As the bank reported a rise in profits for its first full year as a stock-market-listed company,the chief executive, Jayne-Anne Gadhia, or also attempted to quell anxiety about its exposure to buy-to-let mortgages,which comprise 17% of its lending.
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Source: theguardian.com