Virgin Money is repricing its residential and buy-to-let mortgage rates, effective from tomorrow, Tuesday 9th July.
These changes include reductions in rates for several exclusive purchase and remortgage products.
In the exclusive purchase category, its 90% loan-to-value (LTV) Fix and Switch rates with a £1,495 fee will see a 0.05% reduction, bringing the rate to 5.29%.
In addition, Virgin’s 90% LTV Own New 5-year fixed rates with a £995 fee will also be reduced by 0.05%, with rates starting from 3.78%.
Its 90% LTV Greener 5-year fixed rate with a £995 fee will be cut by 0.05%, setting the new rate at 4.82%.
For exclusive remortgage products, selected 5-year fixed rates will be reduced by up to 0.12%, with new rates beginning at 4.54%.
Virgin Money’s exclusive buy-to-let (BTL) products will see various adjustments. Its Fix and Switch rates will be reduced by up to 0.10%, starting at 5.04%.
Selected fixed rates with a 3% fee will be cut by up to 0.05%, with new rates from 3.98%.
Fixed rates with a 1% fee will be reduced by up to 0.12%, starting at 4.55%.
Furthermore, the 5-year fixed rates with a £2,195 fee will be lowered by 0.05%, setting the rate at 4.52%.
Additional changes include a 0.05% reduction in the 90% LTV 5-year fixed rate with a £995 fee, bringing it to 4.84%.
Selected BTL fixed rates with a £995 fee will be reduced by up to 0.22%, starting from 4.74%.
BTL fixed rate fee-savers will be cut by up to 0.17%, with rates beginning at 4.97%. Selected BTL Product Transfer fixed rates will be reduced by up to 0.20%, starting from 4.49%.
Mortgage brokers have been advised to submit applications for these products by 8pm today to ensure they secure the new rates for their customers.
