Virgin Money has made changes to its residential mortgage range, reducing selected 85% and 90% LTV residential fixed rates by up to 0.20 percentage points and introducing a new range of intermediary exclusive buy-to-let products at 60% LTV.
85% LTV residential mortgage changes
- Three-year fixed rate reduced by 0.07 percentage points to 2.48% (£995 product fee, £300 cashback for purchases)
- Five-year fixed rate reduced by 0.05 percentage points to 3.03% (£995 product fee, £300 cashback for purchases)
90% LTV residential mortgage changes
- Three-year fixed rate reduced by 0.20 percentage points to 3.25% (£995 product fee, £500 cashback for first time buyers / £300 cashback for home movers)
- Five-year fixed rate reduced by 0.13 percentage points to 3.55% (£995 product fee, £500 cashback for first time buyers / £300 cashback for home movers)
New buy-to-let products available exclusively through intermediaries
- Two-year fixed rate at 60% LTV launched at 2.19% (£1,995 product fee, £500 cashback)
- Five-year fixed rate at 60% LTV launched at 3.24% (£1,995 product fee, £500 cashback)
- Two-year tracker rate at 60% LTV launched at 2.29% (Bank of England Base Rate +1.79%, £995 product fee, £500 cashback)
Peter Rogerson, Virgin Money’s commercial director for mortgages said: “We are delighted to announce these latest reductions to our higher LTV range, helping borrowers with smaller deposits.
“Virgin Money remains committed to ensuring our intermediary partners have access to our most attractive mortgages, and the new range of buy-to-let products continues to deliver on that promise.”