Virgin Money has announced a new range of residential and buy-to-let mortgage products.
The range includes a number of intermediary exclusive products which are available through all intermediaries registered with a Virgin Money national account.
The intermediary exclusive range will be available for a limited period only.
Summary of the mortgage changes:
New intermediary exclusive products – available to purchase and remortgage customers:
- Residential two-year fixed rate at 2.08% at 60% LTV (£995 product fee)
- Residential three-year fixed rate at 2.54% at 60% LTV (£995 product fee)
- Buy-to-let two-year fixed rate at 2.65% at 60% LTV (£1,995 product fee)
- Buy-to-let two-year fixed rate at 2.74% at 70% LTV (£1,995 product fee)
- Buy-to-let five-year fixed rate at 3.79% at 60% LTV (£1,995 product fee)
These exclusive buy-to-let products all offer £250 cashback.
Larger loan intermediary exclusive products – available to purchase and remortgage customers:
- New two-year fixed rate at 1.94% up to 60% LTV (£1,995 product fee)
- New three-year fixed rate at 2.45% up to 60% LTV (£1,495 product fee)
- Four-year fixed rate reduced from 2.99% to 2.85% up to 60% LTV (£995 product fee)
- Five-year fixed rate reduced from 3.10% to 2.99% (£1,495 product fee), with the maximum LTV increased from 50% to 60%
These products are available on loans between £200,000 and £1,000,000.
Key changes to the core range:
- Two-year fixed rate at 2.14% at 60% LTV (£995 product fee) – a reduction of 0.14 percentage points
- Two-year fixed rate at 4.15% at 90% LTV (No product fee) – a reduction of 0.24 percentage points
- Five-year fixed rate at 3.18% at 70% LTV (£995 product fee) – a reduction of 0.11 percentage points
- Buy-to-let two-year tracker at 1.99% at 60% LTV (2.5% product fee) – a reduction of 0.30 percentage points