Virgin Money is set to introduce new products and a reduction in selected rates, effective from tomorrow (Thursday 8th August).
For purchases, Virgin Money introduced a new 80% loan-to-value (LTV) Exclusive 2-year fixed rate with a £895 fee and £300 cashback, offering a rate of 4.83%.
Another new product is an 80% LTV Exclusive 2-year fixed rate fee-saver with £300 cashback, available at a rate of 5.08%.
Additionally, 65% and 75% LTV 2-year and 5-year fixed rates will be reduced by up to 0.19%, with the new rates starting from 4.20%.
Selected Own New fixed rates will also see reductions of up to 0.19%, with rates starting from 0.69%.
For loans exceeding £1m with a £1,995 fee, fixed rates will be cut by up to 0.19%, bringing the starting rate to 4.30%.
Furthermore, 65%, 75%, and 85% LTV fixed rate fee-savers will now include £300 cashback.
For remortgages, selected fixed rates with a £995 fee will be reduced by up to 0.09%, with rates beginning at 4.23%.
Fixed rate fee-savers will see reductions of up to 0.05%, starting at 4.34%.
For loans over £1m with a £1,995 fee, rates will drop by up to 0.09%, starting at 4.53%.
In Virgin’s buy-to-let (BTL) range, the 60% LTV Fix and Switch Fixed Rate with a £1,495 fee will be reduced by 0.05%, to 4.89%.
Selected fixed rates with a 3% fee will be reduced by up to 0.15%, starting at 3.83%, while those with a 1% fee will drop by up to 0.20%, starting at 4.37%.
In addition, 5-year fixed rates with a £2,195 fee will be cut by up to 0.14%, starting at 4.34% and selected fixed rates with a £995 fee will be reduced by up to 0.12%, starting at 4.70%, and fixed rate fee-savers will be cut by up to 0.07%, starting at 4.84%.
For product transfers, Virgin Money is set to introduce a new 65% LTV 2-year fixed rate with a £1,995 fee at 4.50%, and a 75% LTV 2-year fixed rate with a £1,995 fee at 4.64%.
