Virgin Money has made to its residential mortgage range, including adding a a new intermediary exclusive product and reducing tracker and fixed rates across a range of products by up to 40bps.
New intermediary exclusive
- New intermediary exclusive two-year fixed rate launched at 2.24% available up to 85% LTV (£995 product fee, £1,000 cashback for purchases)
Tracker mortgage change
- Two-year tracker rate at 80% LTV reduced by 0.30 percentage points to 1.69% (£995 product fee)
Three-year fixed rate mortgage changes
- Three-year fixed rate at 75% LTV reduced by 0.05 percentage points to 2.24% (£995 product fee)
- Three-year fixed rate at 80% LTV reduced by 0.11 percentage points to 2.28% (£995 product fee, £300 cashback for purchases)
Five-year fixed rate mortgage changes
- Five-year fixed rate at 65% LTV reduced by 0.07 percentage points to 2.37% (£995 product fee)
- Five-year fixed rate at 70% LTV reduced by 0.10 percentage points to 2.54% (£995 product fee)
- Five-year fixed rate at 80% LTV reduced by 0.16 percentage points to 2.74% (£995 product fee, £300 cashback for purchases)
Help to Buy Equity Loan changes
- Two-year fixed rate at 75% LTV reduced by 0.40 percentage points to 2.59% (no product fee, £500 cashback)
- Five-year fixed rate at 75% LTV reduced by 0.36 percentage points to 3.03% (no product fee, £500 cashback)
- Two-year fixed rate Stamp Duty Buster at 75% LTV reduced by 0.15 percentage points to 2.84% (no product fee, £2,500 cashback)
Peter Rogerson, Virgin Money’s commercial director for mortgages, said: “Our latest reductions to mortgage rates benefit a range of borrowers, including those buying a home through the government’s Help to Buy Equity Loan Scheme.
“We expect our new two-year fixed rate, which is available exclusively through our intermediary partners, to be particularly popular, and we are continuing to waive the usual £99 application fee for a limited period, providing a further benefit to customers.”