It also extends the period of availability of its seven-day remortgage exclusive products
Virgin Money has announced that it is reducing rates on selected remortgage and purchase exclusives, with the new rates available immediately.
Purchase exclusives with free valuation and £1,295 fee were reduced by as much as 41 basis points, with two- and five-year fixes available from 65% to 90% loan-to-values (LTVs).
For product transfer, 65% and 75% LTV two-year fixes were reduced by up to 0.08%, starting from 6.13%.
Remortgage exclusives, available at 50% to 75% LTV, had their rates lowered by as much as 0.19%.
The lender has also extended the period of availability of these remortgage exclusives, which will now be available for seven more days until 8pm on August 7.
More details on the latest Virgin Money product changes can be accessed online through this product update announcement.
“We are making reductions to a selection of residential and buy-to-let exclusive rates,” said Craig Calder (pictured), head of secured lending at Virgin Money. “We have also listened to recent feedback from our intermediary partners regarding product withdrawal notices, and as a result, a range of remortgage exclusive products will be made available for seven days.”
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