Virgin Money reduces rates on residential and buy to let mortgages

Virgin Money has reduced rates on a selection of its residential and buy-to-let (BTL) mortgages.

For new business, Virgin Money has reduced rates on the following Exclusive Purchase deals, all with a £995 fee and £1,000 cashback: a 75% loan-to-value (LTV) 5-year term, reduced by 0.14% to 1.60%; an 85% LTV 2-year term, reduced by 0.10% to 2.49%; and an 85% LTV 5-year term, reduced by 0.02% to 2.77%.

Its Exclusive Purchase BTL 75% LTV 2-year deal, with £1,995 fee and £1,000 cashback, has been reduced by 0.07% to 1.84%.

Virgin Money’s Exclusive Purchase BTL Portfolio deal, at 75% LTV on a 2-year term, with £1,995 fee and £1,000 cashback, has been reduced by 0.07% to 1.94%.

The lender has also made the following changes to its core residential range, all with a £995 fee: 75% LTV 5-year reduced by 0.14% to 1.54%; 85% LTV 2-year reduced by 0.05% to 2.43%; 85% LTV 3-year reduced by 0.01% to 2.75%; 85% LTV 5-year reduced by 0.01% to 2.75%.

Its core BTL range has seen the addition of a new 80% LTV 2-year term, with a £995 fee, launched at 3.36%.

Virgin Money has also made various changes to rates on its product transfer range.

For core residential product transfers, its 75% LTV 5-year deal has been reduced by 0.14% to 1.54%, and its 85% LTV 2-year deal by 0.05% to 2.43%.

For core BTL product transfers, its 80% LTV 2-year rate has been reduced by 0.23% to 3.36%.

Written by: Houseladder