Virgin Money has made a number of rate reductions on selected products across its core residential, buy-to-let and Help to Buy product ranges.
Key changes to the core residential product range:
- Two-year fixed rate up to 65% LTV reduced to 1.44% (£995 product fee)
- Two-year fixed rate up to 90% LTV reduced to 2.35% (£995 product fee)
- Five-year fixed rate up to 65% LTV reduced to 1.99% (£995 product fee)
Key changes to the Help to Buy Guarantee product range:
- Two-year fixed rate at 95% LTV reduced to 3.79% (No product fee)
- Five-year fixed rate at 95% LTV reduced to 4.39% (No product fee)
Key changes to the Help to Buy Equity Loan product range – with £500 cashback for purchase customers:
- Two-year fixed rate up to 75% LTV reduced to 1.65% (£995 product fee)
- Five-year fixed rate up to 55% LTV reduced to 2.19% (£995 product fee)
Key changes to buy-to-let product range – with £500 cashback for purchase and remortgage customers:
- Two-year fixed rate up to 75% LTV reduced to 2.19% (£1,995 product fee)
- Five-year fixed rate up to 75% LTV reduced to 3.19% (£1,995 product fee)
Peter Rogerson, Virgin Money’s commercial director for mortgages said: “We are delighted to be making a number of improvements across our residential, Help to Buy and buy-to-let product ranges.
“After reporting a strong performance for the first six months of 2016, we remain focused on supporting our intermediary partners – and we believe this new range will be very popular with their customers.”