Virgin Money will launch a range of two-year residential fixed-rate exclusive products and will cut other rates by 15 basis points tomorrow (27 October).   

The high street lender’s deals cover:   

Remortgage exclusives with a 1% fee, free valuation and free legals  

• 60% loan to value two-year fixes will be launched at 5.09%  
• 70% LTV two-year fixes will be launched at 5.15%  

Remortgage exclusives with free valuation and £250 cashback  

• 60% LTV two-year fixes, with a £995 fee will be launched at 5.26%  
• 70% LTV two-year fixes, with a £995 fee will be launched at 5.32%  
• 60% LTV five-year fixes, with a £995 fee will be launched at 4.85%  
• 70% LTV five-year fixes, with a £995 fee will be launched at 4.90%  

Purchase exclusives with free valuation   

• 85% LTV two-year fixes, with a £1,295 fee will be launched at 5.46%     
• 85% LTV five-year fixes, with a £1,295 fee will be launched at 4.96%  
• 65% LTV two-year fix fee-saver will be launched at 5.47%     
• 75% LTV two-year fixes fee-saver will be launched at 5.52%     
• 85% LTV two-year fixes fee-saver will be launched at 5.88%      
• 85% LTV five-year fix fee-saver will be launched at 5.12%  

The lender will also make these rate changes:  

• 90% LTV purchase exclusives will be reduced by up to 10bps, with rates starting from 5.11%.  
• BTL portfolio remortgage and purchase exclusives, with a 3% fee will be reduced by 5bps, with rates starting from 4.97%  
• Selected product transfer fixes will be reduced by up to 15bps, with rates starting from 4.89%  
• Selected core purchase and remortgage fixes will be reduced by up to 15bps, with rates starting from 4.92%  
• Selected purchase and remortgage Freedom to Fix rates will be increased by 5bps, with rates starting from 5.60%  

John Charcol mortgage technical manager Nicholas Mendes says: “Following TSB’s recent repricing, Virgin has moved quickly to take over the top spot for remortgage two-year fixed-rate deals from tomorrow.  

“It’s fantastic to see a lender quickly pick up where another lender has exited, but with any exclusive deal mortgage holders need to react quickly to secure.”