It also withdraws certain purchase and remortgage exclusive fixed rates
Virgin Money has announced a reduction in rates on several of its products, with cuts of up to 65 basis points (bps).
For remortgage exclusives, the lender has slashed rates on two-year fixes with a £995 fee, with reductions of up to 29bps, starting from 4.64%. Five-year fixed rates with the same fee saw reductions of up to 54bps, starting from 4.19%. Additionally, five-year fixed rate fee-savers were cut by up to 54bps, with rates now beginning at 4.39%.
For purchase and remortgage £1 million-plus exclusives, Virgin Money has reduced rates on 75% loan-to-value (LTV) two- and five-year fixes with a £1,995 fee by up to 40bps, starting from 4.37%.
In the buy-to-let exclusives category, the adjustments are as follows:
- Two-year fixed rates with a £2,195 fee, reduced by up to 32bps, starting from 4.51%
- Five-year fixed rates with a £2,195 fee, reduced by up to 29bps, starting from 4.20%
- Two-year fixed rates with a 1% fee, reduced by up to 65bps, starting from 4.64%
- Five-year fixed rates with a 1% fee, reduced by up to 30bps, starting from 4.34%
- Two-year fixed rates with a 3% fee, reduced by up to 45bps, starting from 3.87%
- Five-year fixed rates with a 3% fee, reduced by up to 37bps, starting from 3.97%
Alongside the rate adjustments, Virgin Money has announced the withdrawal of certain products, including various purchase and remortgage exclusive fixed rate deals, with LTVs ranging from 60% to 85% and various fees.
The lender’s current rates, reflecting the latest changes, can be accessed online through its updated product guide.
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