The new products and updated rates are now available
Virgin Money has launched a new range of purchase exclusives and reduced the rates on a number of its existing residential fixed rate mortgage products.
Available starting Friday, January 20, 2023, the new exclusive purchase deals with free valuation are:
- 65% loan-to-value (LTV) five-year fixed rate with £1,495 fee at 4.28%
- 75% LTV five-year fixed rate with £1,495 fee at 4.33%
- 85% LTV five-year fixed rate with £1,495 fee at 4.57%
- 90% LTV five-year fixed rate with £1,495 fee at 4.70%
The lender also announced rate reductions by up to 0.73% on its residential fixes. Below is the list of products with rates that were updated due to the latest reductions.
Exclusive purchase deals with £1,000 cashback and free valuation:
- 75% LTV five-year fixed rate with £995 fee - rate reduced by 0.04% to 4.45%
- 85% LTV five-year fixed rate with £995 fee - rate reduced by 0.08% to 4.67%
- 90% LTV five-year fixed rate with £995 fee - rate reduced by 0.11% to 4.77%
Exclusive remortgage deals with £500 cashback and free valuation:
- 65% LTV two-year fixed rate with £995 fee - rate reduced by 0.59% to 4.60%
- 75% LTV two-year fixed rate with £995 fee - rate reduced by 0.54% to 4.65%
- 85% LTV two-year fixed rate with £995 fee - rate reduced by 0.49% to 4.90%
- 65% LTV five-year fixed rate with £995 fee - rate reduced by 0.14% to 4.25%
- 75% LTV five-year fixed rate with £995 fee - rate reduced by 0.14% to 4.30%
- 85% LTV five-year fixed rate with £995 fee - rate reduced by 0.19% to 4.50%
Product transfer:
- 65% LTV two-year fixed rate with £995 fee - rate reduced by 0.39% to 4.60%
- 65% LTV two-year fixed rate fee-saver - rate reduced by 0.21% to 4.94%
- 65% LTV five-year fixed rate with £995 fee - rate reduced by 0.19% to 4.30%
- 65% LTV five-year fixed rate fee-saver - rate reduced by 0.13% to 4.46%
- 65% LTV seven, 10-, and 15-year fixed rate fee-savers - rate reduced by 0.30% to 4.29%
Virgin Money has made several changes to its mortgage rates and lending policy in the months following the mini budget. It also recently introduced product switching on pipeline cases.
The full details of all mortgage products offered by Virgin Money can be found on its latest mortgage update.
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