Virgin Money will launch a range of two-year residential fixed-rate exclusive products and will cut other rates by 15 basis points tomorrow (27 October).
The high street lender’s deals cover:
Remortgage exclusives with a 1% fee, free valuation and free legals
60% loan to value two-year fixes will be launched at 5.09%
70% LTV two-year fixes will be launched at 5.15%
Remortgage exclusives with free valuation and £250 cashback
60% LTV two-year fixes, with a £995 fee will be launched at 5.26%
70% LTV two-year fixes, with a £995 fee will be launched at 5.32%
60% LTV five-year fixes, with a £995 fee will be launched at 4.85%
70% LTV five-year fixes, with a £995 fee will be launched at 4.90%
Purchase exclusives with free valuation
85% LTV two-year fixes, with a £1,295 fee will be launched at 5.46%
85% LTV five-year fixes, with a £1,295 fee will be launched at 4.96%
65% LTV two-year fix fee-saver will be launched at 5.47%
75% LTV two-year fixes fee-saver will be launched at 5.52%
85% LTV two-year fixes fee-saver will be launched at 5.88%
85% LTV five-year fix fee-saver will be launched at 5.12%
The lender will also make these rate changes:
90% LTV purchase exclusives will be reduced by up to 10bps, with rates starting from 5.11%.
BTL portfolio remortgage and purchase exclusives, with a 3% fee will be reduced by 5bps, with rates starting from 4.97%
Selected product transfer fixes will be reduced by up to 15bps, with rates starting from 4.89%
Selected core purchase and remortgage fixes will be reduced by up to 15bps, with rates starting from 4.92%
Selected purchase and remortgage Freedom to Fix rates will be increased by 5bps, with rates starting from 5.60%
John Charcol mortgage technical manager Nicholas Mendes says: “Following TSB’s recent repricing, Virgin has moved quickly to take over the top spot for remortgage two-year fixed-rate deals from tomorrow.
“It’s fantastic to see a lender quickly pick up where another lender has exited, but with any exclusive deal mortgage holders need to react quickly to secure.”
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