Virgin Money introduces exclusive products and reduces fixed mortgage rates

Effective from tomorrow (Wednesday 29th November), Virgin Money has launched a number of exclusive products, and made mortgage rate reductions across residential and buy-to-let (BTL).

New remortgage exclusives include: 2-year fixed rates at 60% loan-to-value (LTV) and 70% LTV at 5.12% and 5.17%; 5-year fixed rates at 60% and 70% LTV at 4.70% and 4.80%; 5-year fixed fee-saver rates at 60% and 70% LTV at 4.80% and 4.98%.

New purchase exclusives include 2-year and 5-year 85% LTV fixed rates, both with a £1,295 fee and £500 cashback, at 5.23% and 4.69%, and 2-year and 5-year 85% LTV fixed rate fee-savers, with £300 cashback, at 5.51% and 4.83%.

New product transfers, with a £1,495 fee, include a 65% LTV 2-year at 4.84%, a 75% LTV 2-year at 4.94%, a 65% LTV 5-year at 4.74%, and a 75% LTV 5-year rate at 4.84%.

In addition, Virgin Money reduced purchase exclusives by up to 0.18%, with rates now starting from 4.42%.

Buy-to-let exclusives were reduced by up to 0.28%, starting from 4.62%, residential product transfers by 0.16%, starting from 4.79%, and product transfer BTL fixes by up to 0.20%, starting from 5.23.

From 8pm today, a number of mortgages will be withdrawn, including 2-year and 5-year purchase exclusives, and 2-year and 5-year remortgage exclusives.

Virgin Money also extended the deadline for its Green Reward offer, allowing residential and BTL customers more time to register and claim cashback for green home improvements.