Virgin Money is set to introduce a series of mortgage rate reductions, effective from tomorrow, Thursday 3rd July, across a range of purchase, buy-to-let (BTL), and product transfer options.
These changes aim to offer more competitive choices for customers and intermediaries alike.
Within its Exclusive Purchase range, the 75% loan-to-value (LTV) 5-year fixed rate mortgage with a £895 fee will be reduced by up to 0.05%, bringing the rate down to 4.09%.
Additionally, the 80% LTV 2- and 5-year fixed rate deals will see reductions of up to 0.05%, with rates starting from 4.10%.
The 85% LTV 5-year fixed rate with a £895 fee will also be cut by 0.05%, reducing the rate to 4.19%.
Virgin Money’s BTL offerings will also benefit from cuts.
Selected 2- and 5-year fixed rates with a 3% fee will be reduced by up to 0.04%, with rates now starting at 2.98%.
Fixed rates with a 1% fee will drop by 0.08%, starting from 3.93%.
Options with a £2,195 fee will also see reductions of up to 0.08%, with rates beginning at 3.92%, while those with a £995 fee will be reduced by 0.08% to start at 4.16%.
Fee-saver fixed rate options will similarly be cut by 0.08%, with rates beginning at 4.47%.
For customers looking to switch products, Virgin Money is reducing selected 65% LTV 2-, 3- and 3-year fixed rates by up to 0.11%, with new rates starting at 3.86%.
In addition, BTL product transfer fixed rates will decrease by 0.08%, starting from 3.77%.
