Virgin Money is set to implement rate reductions across a range of its mortgage products effective Tuesday, 23rd January. This adjustment includes a decrease in rates for both remortgage exclusives and buy-to-let (BTL) exclusives.
For remortgage exclusives, the 2-year fixed rates with a £995 fee will see a reduction of up to 0.29%, starting at 4.64%. The 5-year fixed rates with the same fee will be reduced by up to 0.54%, beginning at 4.19%. Additionally, 5-year fixed rate fee-savers will experience a reduction of up to 0.54%, with rates starting from 4.39%.
In the category of Purchase & Remortgage £1m+ Exclusives, the 75% loan-to-value (LTV) 2 and 5-year fixed rates with a £1,995 fee will be reduced by up to 0.40%, starting from 4.37%.
The adjustments in BTL exclusives include a reduction of up to 0.32% for 2-year fixed rates with a £2,195 fee, starting at 4.51%. The 5-year fixed rates with the same fee will see a decrease of up to 0.29%, beginning at 4.20%.
Further, the 2-year fixed rates with a 1% fee will be reduced by up to 0.65%, starting at 4.64%, and the 5-year fixed rates with a 1% fee will see a reduction of up to 0.30%, starting from 4.34%.
Additionally, 2-year fixed rates with a 3% fee will be reduced by up to 0.45%, starting from 3.87%, and 5-year fixed rates with a 3% fee will see a reduction of up to 0.37%, beginning at 3.97%.
Concurrently, Virgin Money will withdraw several products at 8 pm on Monday, 22 January. These include various fixed-rate purchase exclusives across different LTVs, ranging from 65% to 85%, as well as certain remortgage exclusives.
