Virgin Money cuts rates on fixed rate range

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Virgin Money is cutting rates on a number of fixed rate loans, including bringing a residential five-year fixed at 1.99 per cent up to 65 per cent LTV with a £995 fee.

The lender now has a residential two-year fixed rate loan at 1.44 per cent, also at up to 65 per cent LTV with a £995 product fee.

Other new Virgin rates include a buy-to-let two-year fixed rate loan at 2.19 per cent up to 75 per cent LTV with a £1,995 fee and £500 cashback for purchase and remortgage customers.

Virgin is also changing its Help-to-Buy Guarantee product range.

These are:

  • Two-year fixed rate at 95 per cent LTV reduced to 3.79 per cent with no product fee
    Five-year fixed rate at 95 per cent LTV reduced to 4.39 per cent with no product fee
  • Key changes to the Help-to-Buy Equity Loan product range – with £500 cashback for purchase customers:

The lender is also tweaking its buy-to-let product range, with £500 cashback for purchase and remortgage customers.

Virgin Money commercial director for mortgages Peter Rogerson says: “We are delighted to be making a number of improvements across our residential, Help to Buy and buy to let product ranges.

“After reporting a strong performance for the first six months of 2016, we remain focused on supporting our intermediary partners – and we believe this new range will be very popular with their customers.”