Lender also reprices select existing mortgage rates
Virgin Money has introduced new Fix and Switch rates, with options for both purchase and remortgage clients.
One of the new products is a 90% loan-to-value (LTV) five-year fixed rate mortgage for purchasers, offering a £250 cashback at a rate of 4.98%.
For those looking to remortgage, there is also a new five-year fixed rate deal at 70% LTV that comes with free valuation and free legals, pegged at 4.69%.
Last week, the lender launched new Fix and Switch LTV options, introducing a new 95% LTV five-year fixed rate product for exclusive purchases, offering a £250 cashback at a rate of 5.54%.
In addition to these products, Virgin Money announced adjustments to its existing mortgage rates.
The changes have seen an uptick of up to 10 basis points (bps) in selected 85% to 90% LTV purchase exclusive fixed rates, starting at 4.50%. Remortgage exclusive fixed rates at 60% and 70% LTV have also been increased by 5bps, with new rates from 4.29%.
The lender has also adjusted its buy-to-let fixed rates upwards by 10bps, offering rates from 3.97%, while £1 million-plus purchase and remortgage exclusive fixed rates have been increased by up to 0.39%, with rates from 4.76%.
There were also changes to selected residential product transfer fixed rates for 65% and 75% LTV across two-, three, and five-year terms, with rate increases of up to 15bps. The lowest rate is now at 4.13%.
For BTL product transfer fixes for the same durations, rates have been reduced by up to 25bps, with rates starting at 4.73%.
The lender’s current rates, reflecting the latest changes, can be accessed online through its updated product guide.
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