Virgin Money has announced changes to its mortgage products, which will see fixed rates increased across purchase, remortgage, buy-to-let (BTL), and product transfer options, effective from 8pm on Wednesday, 30th October.
For purchase mortgages, selected 2 and 5-year fixed rates with a £995 fee will increase by up to 0.15%, with rates starting from 4.14%. Fee-saver options for both terms will also see a rise of up to 0.15%, beginning at 4.29%.
Higher LTV options include the 75% LTV 5-year rate with a £1,995 fee, which will be increased by 0.15% to 4.24%. Additionally, Retrofit Boost 5-year rates will go up by 0.15%, starting from 4.49%.
In the remortgage sector, 65% LTV 2-year rates will be increased by 0.05%, starting from 4.43%, while 65% and 75% LTV 5-year rates will see increases of up to 0.12%, beginning at 4.12%. Retrofit Boost 5-year rates will also increase by up to 0.15%, now starting from 4.49%.
Buy-to-let products will also be affected, with selected 60% LTV 2-year rates increasing by 0.10%, starting from 3.57%, and 75% LTV 2-year rates rising by 0.05%, now beginning at 3.72%.
In addition, 60% LTV 5-year rates will increase by 0.15%, with both 60% and 75% LTV options starting from 3.88%. The 75% LTV Retrofit Boost 5-year rate will increase by 0.10%, reaching 4.68%.
For product transfers, the 75% LTV 2-year fee-saver rate will see a 0.11% increase to 4.75%. Selected 3-year rates will increase by up to 0.16%, beginning at 4.12%, while selected 65% and 75% LTV 5-year rates will increase by up to 0.15%, starting from 3.94%.
Additionally, selected BTL rates in the product transfer category will see increases of up to 0.15%, now starting from 4.04%.
