Virgin Money has made a number of changes to its residential mortgage range.
It has also altered its intermediary exclusive buy-to-let range by reducing selected fixed rates and introducing new fixed rate options at 70% LTV, as well as reducing selected higher LTV residential fixed rates by up to 0.18 percentage points.
Residential mortgage changes are as follows:
- Two-year fixed rate at 90% LTV reduced by 0.18 percentage points to 2.79% (£995 product fee, £300 cashback for purchases)
- Three-year fixed rate at 90% LTV reduced by 0.10 percentage points to 3.15% (£995 product fee, £300 cashback for purchases)
- Five-year fixed rate at 85% LTV reduced by 0.09 percentage points to 2.94% (£995 product fee, £300 cashback for purchases)
New buy-to-let fixed rates available exclusively through intermediaries:
- Two-year fixed rate at 70% LTV launched at 2.54% (£1,995 product fee, £500 cashback)
- Two-year fixed rate at 70% LTV launched at 2.85% (£995 product fee, £500 cashback)
- Five-year fixed rate at 70% LTV launched at 3.60% (£1,995 product fee, £500 cashback)
Intermediary exclusive buy-to-let changes:
- Two-year fixed rate at 60% LTV reduced by 0.06 percentage points to 2.13% (£1,995 product fee, £500 cashback)
- Two-year fixed rate at 60% LTV reduced by 0.10 percentage points to 2.45% (£995 product fee, £500 cashback)
- Five-year fixed rate at 60% LTV reduced by 0.05 percentage points to 3.19% (£1,995 product fee, £500 cashback)
Peter Rogerson, Virgin Money’s commercial director for mortgages, said: “A good supply of housing in the private rented sector is an important part of the market, and we are delighted to support landlords with these latest improvements to our buy-to-let products, which are available through all of our intermediary partners.”