Virgin Money launches ‘Red Hot’ fixed rate range

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Virgin Money has today launched new residential and buy-to-let fixed rate loans, branded as ‘Red Hot’ mortgages.

The range includes a two-year residential fixed rate up to 90 per cent LTV at 2.84 per cent for first time buyers. The loan has no product fee and £1,000 cashback.

Virgin has also introduced a five-year residential fixed rate up to 65 per cent LTV now at 1.89 per cent.

The loan has a £995 fee, £300 cashback for purchases, a free valuation and legal fees for remortgages.

The lender has also launched a two-year buy-to-let fixed rate at 60 per cent LTV at 1.59 per cent. The product has a £1,995 product fee and £500 cashback.

Virgin Money commercial director for mortgages Peter Rogerson says: “To kick off the year we have launched a new range of red hot mortgage products that offer competitive rates to help homebuyers get onto the property ladder, support those looking to move home and a great deal for landlords.”