Virgin Money has launched a range of exclusives and rate cuts, while Coventry for intermediaries will come to market with repriced deals on Friday (1 December)
Highlights of the bank’s exclusives offers include:
- Remortgage exclusives with a free valuation and free legals
- 60% loan to value two-year fixes, with a £995 fee at 5.12%
- 70% LTV five-year fixes, with a £995 fee at 4.80%
Purchase exclusives with £500 cashback
- 85% LTV five-year fixes, with a £1,295 fee at 4.69%
Purchase exclusives with £300 cashback
- 85% LTV five-year fixed-rate fee-savers at 4.83%
Product transfer fixed-rate deals with a £1,495 fee
- 65% LTV two-year fixes at 4.84%
- 65% LTV five-year fixes at 4.74%
The lender has also cut purchase and landlord rates by up to 28 basis points, which includes:
Purchase exclusives have been reduced by up to 18bps, with rates starting from 4.42%
Buy-to-let exclusives have been reduced by up to 28bps, with rates starting from 4.62%
Meanwhile, Coventry for intermediaries will reprice and launch new products at 8am on 1 December, after closing the relevant offers at 8pm on 30 November.
The broker-only site says its changes will cover:
Residential
New borrowers
- Reducing all fixes
- End dates extending across entire range
Existing borrowers
Reducing all fixes
- Closing all five-year Flexx fixes
- BTL & portfolio BTL
New borrowers
- Reducing all fixes
- End dates extending across entire range
Existing Borrowers
- Reducing all fixes
- Closing all five-year Flexx fixes
John Charcol mortgage technical manager Nicholas Mendes says: “This week is starting to feel like the last push for lenders to secure the remaining opportunities before the winter break.
“Over the next fortnight expect to see lenders reprice one last time before they turn their attention towards the new year.
“The past week has seen a raft of repricing from high street lenders and building societies, with the latest notice coming from Coventry Building Society.
“Given how competitively Coventry Building Society is priced among the best buys tables, the latest reprice could be the moment we see another sub 4.5% alongside Nationwide’s.”
