Virgin Money is tomorrow (22 November) cutting a number of interest rates in its residential mortgage range.
Two year fixed rates up to 75% LTV are being reduced by 0.16 basis points to 3.29%, with loans up to 60% LTV available at 2.68% (both with a £995 product fee). A two year tracker with a £995 product fee up to 75% LTV is also being reduced, by 0.16 basis points, to 3.29%.
Three year fixed rates will be available at 2.95%, a reduction of 0.30 basis points (up to 70% LTV with a £995 product fee). The equivalent product up to 75% LTV will reduce by 0.21 basis points to 3.48%.
Selected five year fixed rates will also reduce, with loans up to 70% LTV available at 3.18% – a 0.21 basis point reduction – and up to 75% at 3.65%, a 0.14 basis point reduction (both with a £995 product fee).
On the buy-to-let side, a two year fixed rate up to 60% LTV will be available at 3.75%, or up to 70% LTV at 4.15%. Both products have a £1,995 product fee.
With a £995 product fee, a two year fixed rate up to 60% LTV will be available at 4.25%, and up to 70% LTV at 4.49%.
The limited offer of £750 cashback on buy-to-let will no longer be available, with cashback across the buy-to let-range reverting to the previous level of £500.