It also launches new BTL portfolio exclusives
Virgin Money has announced changes to its residential and buy-to-let mortgage range, launching new rates and reducing selected existing rates.
On the lender’s purchase exclusives that come with free valuation and £1,295 fee, 65% to 85% loan-to-value (LTV) two- and five-year fixed rates were reduced by up to 10 basis points (bps).
Rates of selected purchase fixed rate fee-savers were also cut, with the 75% LTV two-year fix getting the largest rate reduction at 12bps – its rate is now 5.87%.
Selected product transfer fixed rates were also lowered by up to 10bps, with rates starting from 5.18%.
The lender has also launched new buy-to-let portfolio exclusives with £2,195 fee. New two-year fixes at loan-to-values of 50%, 60%, and 75% were introduced at rates of 6.06%, 6.15%, and 6.18%, respectively. Five-year options with the same LTVs were also launched at 5.62%, 5.67%, and 5.82%, respectively.
Full details of the latest product changes can be accessed online through this product update announcement.
Virgin Money has also announced residential mortgage range changes at Clydesdale Bank.
The bank launched two new 75% LTV exclusive remortgage deals with £500 cashback – the two-year fixed rate at 5.59% while the five-year option has a rate of 5.25%. Its existing 80% LTV two- and five-year fixed rates were reduced by 11bps and 10bps, respectively.
Several exclusive large loan deals – available for loan sizes between £200,000 and £1.5 million – also had their rates reduced. The 65% and 75% LTV two-year fixes got a 10bps reduction, while the 75% LTV five-year deal was lowered by 6bps.
Clydesdale’s professional two- and five-year fixed rates were also reduced by up to 0.10%, starting from 6.18% and 5.35%, respectively. Newly qualified professional 75% to 90% LTV two- and five-year fixed rates were reduced by 0.10% and 0.20%, respectively.
Details of these product changes from Clydesdale can be viewed through rate change announcement.
See the latest Virgin Money mortgage rates at the link. Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, Twitter, and LinkedIn.
