Virgin Money has made reductions to selected fixed rate and tracker products within its buy-to-let and residential mortgage ranges.
Key changes within the buy-to-let range include:
2 year fixed rates:
- 3.10% up to 75% LTV (£1,995 product fee) – a reduction of 0.25 percentage points
- 3.58% up to 75% LTV (£995 product fee) – a reduction of 0.26 percentage points
- 3.95% up to 70% LTV (no product fee) – a reduction of 0.79 percentage points
- 4.24% up to 75% LTV (no product fee) – a reduction of 0.80 percentage points
3 year fixed rates:
- 3.44% up to 70% LTV (£1,995 product fee) – a reduction of 0.24 percentage points
- 3.89% up to 70% LTV (£995 product fee) – a reduction of 0.26 percentage points
- 4.39% up to 70% LTV (no product fee) – a reduction of 0.45 percentage points
5 year fixed rates:
- 4.29% up to 75% LTV (£1,995 product fee) – a reduction of 0.19 percentage points
- 4.49% up to 75% LTV (£995 product fee) – a reduction of 0.29 percentage points
- 4.34% up to 60% LTV (no product fee) – a reduction of 0.30 percentage points
- 4.44% up to 70% LTV (no product fee) – a reduction of 0.50 percentage points
2 year trackers:
- 2.59% up to 70% LTV (£995 product fee) – a reduction of 0.16 percentage points
- 2.29% up to 60% LTV (2.5% product fee) – a reduction of 0.40 percentage points
Virgin Money has also announced some changes across its residential mortgage range.
Key changes within the residential range include:
2 year tracker:
- 1.75% up to 70% (£995 product fee) – a reduction of 0.10 percentage points
2 year ‘Freedom to Fix’ tracker
- 1.85% up to 70% (£995 product fee) – a reduction of 0.10 percentage points
- Our ‘Freedom to Fix’ products allow customers to switch to a fixed rate during the tracker period without incurring an early repayment charge
Peter Rogerson, Virgin Money’s savings and mortgages director, said: “We’re delighted to announce these rate reductions and increase the competitiveness of our mortgage range for our customers, while retaining our offer of £500 cashback across the entire buy-to-let range.”