Virgin Money has notified brokers of upcoming changes to its mortgage range, confirming it will reduce selected fixed rates across residential, buy-to-let and product transfer deals from Thursday 26th June.
On the residential side, a new 5-year fixed exclusive at 75% LTV with no fee will be introduced at 4.25%.
Existing exclusives will also see reductions, including 80% LTV 2- and 5-year fixed rates cut by up to 0.07% starting from 4.15%, and an 85% LTV 5-year fixed with a £895 fee reduced by 0.04% to 4.24%. The 95% LTV 5-year fixed fee-saver will drop by 0.05% to 4.89%.
For remortgage customers, the 75% LTV 2-year fixed with a £995 fee will fall by 0.09% to 4.14%, while other selected 2- and 5-year fixed rates will reduce by up to 0.22% and 0.15% respectively, starting from 4.28% and 4.24%.
In the BTL segment, a new 80% LTV 2-year fixed with a £995 fee will launch at 5.09%, while the 2-year fixed with a 1% fee will be cut by 0.21% to 4.99%.
Products with a 3% fee will see rates reduced by 0.08%, starting from 2.98%, and other BTL 2- and 5-year fixed rates with £995 fee or no fee will be reduced by 0.05%, starting from 4.24% and 4.55% respectively.
Virgin Money will also make reductions of up to 0.23% on selected 2- and 3-year product transfer rates, starting from 3.86%, and cut 5-year fixes by up to 0.14%, from 3.93%. BTL product transfers will be lowered by up to 0.11%, starting at 3.85%.
