Virgin Money adds exclusives, reduces rates by up to 38bps Mortgage Finance Gazette

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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%