Virgin Money is set to introduce a variety of new mortgage products on Tuesday, 9th January. These offerings include purchase exclusives with £500 cashback, featuring a range of 2-year and 5-year fixed-rate options.
The new products cater to various loan-to-value (LTV) percentages, with rates starting from 4.57% for 65% LTV to 5.32% for 90% LTV, across both standard and fee-saver options.
In addition, the lender is launching Professional Purchase & Remortgage Exclusives, tailored for qualified professionals employed in specified fields.
These exclusives cover both 2-year and 5-year fixed rates, with LTVs ranging from 60% to 90% and rates starting from 4.90% to 5.85%.
Virgin Money is also implementing selected rate reductions across its product range. Purchase Exclusives will see up to a 0.23% reduction, starting from 4.19%.
Remortgage Exclusives with a 1% fee will be reduced by up to 0.25%, with rates beginning at 4.34%. Buy-to-let (BTL) Exclusives and £1m+ Purchase & Remortgage Exclusives will experience reductions of up to 0.20% and 0.21% respectively.
Moreover, Product Transfer residential fixed rates are set for a reduction of up to 0.74%, starting from 3.92%.
Concurrently, Virgin Money will withdraw several of its existing Purchase Exclusives with free valuation, including various 90% LTV 2-year and 5-year fixed-rate options, effective from 8 pm on Monday, 8 January.
