Virgin Money will implement rate reductions across its mortgage range on Friday 25th April, with selected residential and buy-to-let fixed rates falling by up to 0.16%.
For purchase customers, Virgin Money’s exclusive 80% LTV 2- and 5-year fixed rates will see reductions of up to 0.08%. The 2-year fixed rate with a £995 fee will fall by 0.04% to 4.29%, while the fee-saver equivalent will drop by 0.07% to 4.52%. The 5-year fixed with a £995 fee will be reduced by 0.06% to 4.25%, and the fee-saver version by 0.08% to 4.36%.
Remortgage customers will also benefit from reductions. Selected 80–90% LTV 2-year fixed rates will fall by up to 0.15%, with rates starting from 4.63%, while 5-year fixed rates at the same LTV range will be cut by up to 0.05%, starting from 4.39%.
In the buy-to-let range, Fix and Switch fixed rates will be reduced by 0.10%, with new rates starting from 4.80%. Selected 2- and 5-year BTL fixes with a 1% fee will drop by up to 0.10%, starting from 4.20%. Options with a £995 fee will also fall by up to 0.10%, from a starting rate of 4.39%. Fee-saver options at 75% LTV will fall by the same margin, with rates starting at 4.60%.
Product transfers will see the most significant change, with 2-year fixed rates cut by up to 0.16%, starting from 4.04%. Three- and five-year fixes will be reduced by up to 0.11%, with rates from 4.14% and 4.01% respectively.
Buy-to-let product transfers will also be adjusted, with 2-year fixed rates reduced by 0.10% to a starting rate of 4.00%, 3-year fixes down 0.05% to 4.19%, and selected 5-year options reduced by 0.05% to 4.09%.
