Virgin Money will launch a new range of exclusive deals and cut selected remortgage, landlord and switching rates by up to 38 basis points tomorrow (27 September).
The lender’s changes cover:
Remortgage exclusives
- Selected fixes up to 70% loan to value, with a £995 fee, £1,500 cashback and free valuation will be launched at 5.38%
Buy-to-let portfolio remortgage and purchase exclusives with a 3% fee
- 60% LTV two-year fixes will be launched at 5.17%
- 75% LTV two-year fixes will be launched at 5.22%
- 60% LTV five-year fixes will be launched at 5.27%
- 75% LTV five-year fixes will be launched at 5.57%
Meanwhile, the firm will cut these purchase exclusives:
- Fixes with a £1,295 fee will be reduced by up to 17bps, starting from 4.82%
- Fee-savers fixes with free valuation reduced by up to 13bps, starting from 5.09%
It also makes these additional cuts:
- Exclusive remortgage fixes will be reduced by up to 18bps
- Core residential & BTL rates will be reduced by up to 38bps
- And selected product transfer fixes will be reduced by up to 26bps, with rates starting from 5.17%
