Virgin Money has announced a series of mortgage rate reductions, effective from tomorrow, Tuesday 25th February.
These changes will affect a range of products across both purchase and product transfer categories.
For homebuyers looking to secure a mortgage, Virgin Money will be introducing notable reductions.
Its 80% loan-to-value (LTV) 5-year fixed rate, which carries an £895 fee, will decrease by 0.02%, bringing the new rate to 4.42%.
Additionally, the lender’s 90% LTV 2-year fixed rates will see a reduction of up to 0.10%, with rates now starting from 4.96%.
In the higher LTV category, Virgin Money is lowering its 95% LTV 2-year fixed rate fee-saver by 0.02%, reducing the rate to 5.45%, and its 95% LTV 5-year fixed rate fee-saver will be reduced by 0.04%, now starting from 5.18%.
For those seeking more flexibility, the 90% and 95% LTV Fix and Switch rates will be lowered by up to 0.10%, with rates starting from 5.22%.
Lastly, the 90% LTV Own New 2-year fixed rates will be reduced by 0.03%, now beginning at 2.30%.
In addition to the changes in the purchase range, Virgin Money is also reducing rates for product transfers.
Selected 65% and 75% LTV 1-, 2-, and 3-year fixed rates will see reductions of up to 0.11%, with rates now starting from 4.15%.
The 65% and 75% LTV 5-year fixed rates will also be reduced by up to 0.10%, starting from 4.12%.
