Virgin Money has made reductions to a series of its residential mortgages, and will launch four new products.
All these new deals and products go on the market on 3 Wednesday February.
It will offer three products that will only be available for two weeks. A new £1,000 cashback 75 per cent loan-to-value five-year mortgage, with a £995 fee at 1.79 per cent. This deal is purchase only.
A new £1,000 cashback 85 per cent LTV two-year, with a £995 fee at 2.79 per cent. Purchase only, also.
And its existing 90 per cent LTV two-year product with a £995 fee at 3.29 per cent, only for first-time buyers. Cashback on this product has been increased to £1,000.
The lender has cut fees or increased cashback on seven core residential products. Its 75 per cent LTV five-year with a £995 fee has had 15 basis points cut, bringing it to 1.73 per cent.
The firm’s 85 per cent LTV 2-year with a £995 fee has had 10 basis points cut, bringing it to 2.69per cent.
Its 85 per cent LTV three-year with a £995 fee has had 8 basis points cut, bringing it to 2.86 per cent.
The bank’s 85 per cent LTV five-year with a £995 fee has also had 8 basis points cut, bringing it to 2.86 per cent.
Its 85 per cent LTV two-year fee-saver has had 5 basis points cut, bringing it to 3.01 per cent.
The lender also introduces a new £500 cashback 90 per cent LTV two-year with a £995 fee at 3.29 per cent, only for first-time buyers.
It also brings in a new £500 cashback 90 per cent LTV two-year fee-saver at 3.39 per cent, which is also only for first-time buyers.
The firm makes further cuts among its shared ownership products. Its 90 per cent LTV five-year with a £995 fee has had 38 basis points cut, bringing it to 3.86 per cent.
And its 90 per cent LTV five-year fee-saver has had 40 basis points cut, bringing it to 4.09 per cent.
Among its product transfer shared ownership products it has cut fees on two products. Its 90 per cent LTV five-year with a £995 fee has had 2 basis points cut, bringing it to 3.86 per cent.
And its 90 per cent LTV five-year fee-saver has had 20 basis points cut, bringing it to 4.09 per cent.
