Virgin Money has unveiled a series of new mortgage products, set to launch tomorrow, Tuesday, 5th August, including competitive fixed-rate deals for both purchase and remortgage customers.
Under its Exclusive Purchase offering, Virgin Money will introduce three new fee-saver products.
These include a 90% loan-to-value (LTV) 2-year fixed rate at 4.51%, a 95% LTV 2-year fixed rate at 4.93%, and a 90% LTV 5-year fixed rate at 4.40%.
For customers looking to remortgage, the bank is launching two additional fee-saver products as part of its Exclusive Remortgage range.
A 2-year fixed rate at 75% LTV will be available at 4.40%, while a 5-year fixed rate at the same LTV will be offered at 4.17%.
In addition to the upcoming product launches, Virgin Money is making a series of rate reductions effective from 8:00pm today.
Within the Exclusive Purchase range, the 80% LTV 2-year fixed rate with a £895 fee will drop by 0.08% to 3.97%, and the corresponding fee-saver version will be reduced to 4.23%.
The 75% LTV 5-year fixed rate with a £895 fee will be cut by 0.05%, bringing it down to 4.02%, while the fee-saver option will fall to 4.13%.
Additionally, the 80% LTV 5-year fixed rate with a £895 fee will decrease by 0.07% to 4.09%, and its fee-saver equivalent will be reduced by 0.04%, now standing at 4.23%.
Rate reductions are also being made in the Exclusive Remortgage category.
The 75% LTV 2-year fixed rate with a £995 fee will be reduced by 0.15%, making the new rate 3.99%. The 5-year fixed rate with the same fee will drop by 0.13% to 4.01%.
Elsewhere, Virgin Money is reducing selected Shared Ownership fixed rates by up to 0.11%, with the new rates starting from 4.08%.
In its product transfer range, 75% LTV 2- and 3-year fixed rates will be cut by up to 0.10%, with rates beginning at 3.89%.
