Virgin Money has made changes to its residential mortgage range.
Key residential changes:
Mortgages for those with smaller deposits reduced:
- 90% LTV two year fixed rate reduced by 0.20 percentage points to 4.55%
- 85% LTV two year fixed rate reduced by 0.10 percentage points to 3.29%
- 80% LTV two year fixed rate reduced by 0.17 percentage points to 2.68%
Fee Saver Option rates (mortgages with no product fee) reduced:
- Two year fixed rate up to 60% LTV reduced by 0.11 percentage points to 2.34%
- Two year fixed rate up to 70% LTV reduced by 0.15 percentage points to 2.44%
- Two year fixed rate up to 75% LTV reduced by 0.05 percentage points to 2.74%
- Two year tracker up to 70% LTV reduced by 0.25 percentage points to 2.34%
Everyday mortgage rates reduced:
- Two year fixed rate up to 70% LTV reduced by 0.05 percentage points to 2.14%
- Two year tracker up to 70% LTV reduced by 0.10 percentage points to 1.94%
- Two year tracker up to 75% LTV reduced by 0.14 percentage points to 2.24%
- Two year tracker up to 80% LTV reduced by 0.17 percentage points to 2.68%
Freedom to Fix trackers, which allow customers to switch into a fixed rate during the tracker period, reduced:
- Two year Freedom to Fix tracker up to 70% LTV reduced by 0.76 percentage points to 2.09%
- Two year Freedom to Fix tracker up to 75% LTV reduced by 0.85 percentage points to 2.34%
- Two year Freedom to Fix tracker up to 80% LTV reduced by 0.81 percentage points to 2.78%
Longer term fixed rates:
- Five year fixed rates available from 3.05% at 70% LTV
- Five year fixed rate with no product fee available from 3.39%
Peter Rogerson, commercial director for mortgages and savings at Virgin Money, said: “We are pleased to announce these latest mortgage rate reductions, which help borrowers across a range of circumstances.”