Effective tomorrow (Wednesday 1st May), Virgin Money will launch two exclusive remortgage products, after it raises rates on various product across its entire range.
The two newly introduced remortgage Fix and Switch products are 85% loan-to-value (LTV) 5-year deals with 2-year early repayment charges (ERCs).
One has a £1,495 fee and 5.54% rate, while the other is a fee-saver product at 5.89%.
Rate increases, meanwhile, will take place from 8pm tonight (Tuesday 30th April).
85% and 90% LTV Fix and Switch purchase rates will be increased by up to 0.10%, starting from 5.27%.
75% LTV Fix and Switch remortgage rates will be increased by 0.10%, starting from 5.09%.
60% and 75% buy-to-let (BTL) Fix and Switch rates will be increased by up to 0.15%, starting from 5.07%.
90% LTV Exclusive purchase fixed rates will be increased by up to 0.08%, starting from 4.87%.
Selected Exclusive remortgage fixed rates will be increased by up to 0.16%, starting from 4.54%.
£1m-plus Exclusive purchase and remortgage fixed rates will be increased by up to 0.20%, starting from 4.90%.
Exclusive BTL fixed rates will be increased by up to 0.10%, starting from 4.07%.
Selected Product Transfer fixed rates will be increased by up to 0.10%, starting from 4.43%.
