Virgin Money is launching a series of new mortgage products launching on Wednesday, 23rd August, along with the withdrawal of some existing products.
The new offerings include purchase exclusives with free valuation and £1,000 cashback, a 90% LTV 2-year fixed rate with a £495 fee at 6.60%, and an 85% LTV 5-year fixed rate with a £495 fee at 5.63%.
The financial institution is also introducing £1m+ purchase exclusives with new 75% LTV 2-year and 5-year fixed rates with £1,995 fees at 6.41% and 5.79% respectively.
For remortgaging customers, Virgin Money will offer a new 60% LTV 2-year fixed rate fee-saver at 6.36%, and a new 60% LTV 5-year fixed rate fee-saver at 5.54%, both with free valuation and £250 cashback.
Other adjustments include reductions on select fixed rates with free valuation, including 65% and 75% LTV 5-year fixed rates, and changes to remortgage exclusives with free legals.
At the same time, Virgin Money will withdraw the 70% LTV exclusive remortgage tracker and all new business BTL fixed rate fee-savers.
Richard Walker, head of intermediary sales at Virgin Money, said: “Virgin Money has launched new purchase products for loans between £1m – £2m.
“For customers requiring a larger loan, our team of BDMs have access to a dedicated underwriting team to help with or to discuss an application which is complex or doesn’t meet our standard lending criteria.”
