As of today (Wednesday 8th February) Virgin Money is making changes to its residential and buy-to-let product ranges.
A new 95% (loan-to-value) LTV 5-year fixed rate fee-saver will be launched at 5.09%, as well as a new 95% LTV 10-year fixed fee-saver at 5.59%, available to purchase customers only.
65-85% LTV fixed rates will also be reduced by up to 0.19%.
Richard Walker, head of intermediary sales, said: “Many borrowers, including first-time buyers, are looking for a longer-term product which guarantees a fixed rate and a consistent payment for the term of the product.
“These new 5- and 10-year fixed rates at 95% LTV offer exactly that, and mean more aspiring homeowners can get their foot on the housing ladder and get the keys to their first property.”
The lender is also reducing its Exclusive rates and new deals, which will be available from 3.95%.
This introduces 65-90% LTV 5-year fixed rates with £1,495 fee, reduced by up to 0.18% and available from 3.99%.
Additionally, Virgin’s 75-90% LTV 5-year fixed rates with £995 fee and £1,000 cashback will be reduced by up to 0.12%, and available from 4.22%.
Reductions have also been made across its Exclusive remortgage deals with cashback and its product transfer range.
Walker added: “We’ve also refreshed our range of Intermediary Exclusives, including competitive 5-year fixed rates starting from 3.95%, as we continue to support many types of customers with their mortgage needs.”
