Virgin adds products and cuts rates, Dudley trims prices by up to 0.39% Mortgage Finance Gazette

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Virgin Money has launched new products across various ranges, reduced rates and withdrawn products.

The lender has added 10 products to its shared ownership greener new build range including a 85% loan-to-value (LTV) two-year fixed rate with £995 fee, at 4.42% and a 90% LTV two-year fixed rate fee-saver, at 5.04%.

Virgin has also added a 75% LTV 10-year fixed rate fee-saver at 4.72% to its purchase and remortgage range.

New additions to exclusive BTL remortgage with free valuation and £300 cashback include a 60% two-year fixed rate with 3% fee, at 3.49% and a 60% LTV five-year fixed rate with 3% fee, at 3.99%.

Two products have also been launched in the lender’s product transfer range. These are a 65% LTV five-year fixed rate with £1,995 fee, at 4.04% and a 75% LTV five-year fixed rate with £1,995 fee, at 4.17%.

Virgin has also lowered rates across purchase, product transfer and BTL ranges.

In the purchase range, 80% LTV two- and five-year fixed rates will be reduced by up to 0.13%, starting from 4.31% while the 95% LTV 10-year fixed rate fee-saver will be trimmed by 0.12%, to 5.29%.

Selected product transfer two-year fixed rates will be reduced by up to 0.13%, starting from 4.15% and selected three-year fixes in the same range will be cut by up to 0.13%, starting from 4.20%.

BTL products have been lowered by 0.10%, these include 60% LTV two-year fixed rate with £2,195 fee, now with a rate of 4.49%, while the 75% LTV 2 Year Fixed Rate with £2,195 fee will have a rate of 4.54%.

Virgin has also withdrawn products within its purchase and remortgage, product transfer and BTL product transfer ranges.

Meanwhile, Dudley Building Society has reduced rates by up to 0.39% across its discounted rate mortgage products, alongside the launch of a range of new five-year fixed mortgages.

The rate cuts include residential expat two-year discount at 60% LTV, which has been reduced from 6.09% to 5.70%.

The BTL expat two-year discount at 70% LTV has also been cut from 6.19% to 5.85%, while the holiday let expat two-year discount at 70% LTV has been lowered from 6.19% to 5.95%.

Dudley Building Society has also expanded its mortgage offering with the introduction of five-year fixed products across residential, BTL, and holiday let lending. These include a residential five-year fixed at 75% LTV until 30 June 2030 at 5.28% and a residential five-year fixed at 90% LTV until 30 June 2030 at 5.34%.

In addition, the society has added a holiday let five-year fixed at 80% LTV until 30 June 2030 at 5.38% and a BTL five-year fixed at 80% LTV until 30 June 2030 at 5.38%.

All new products come with loan sizes ranging between £25,000 and £1m.

Dudley Building Society distribution director Robert Oliver says: “We continue to listen to brokers and respond to market demand with solutions that help them support their clients effectively.”

“These new mortgage products, particularly the reductions in our expat and BTL discount ranges, are designed to offer more value and flexibility for borrowers in niche markets.”