Virgin Money will cut selected residential and landlord fixed-rate home loans by up to 28 basis points tomorrow (29 August).

The high street lender’s reductions include:

Purchase with £995 fee and £300 cashback

Two-year 85% loan-to-value fixes will be reduced by 20bps to 4.74%
Five-year 85% LTV fixes will be reduced by 20bps to 4.34%
Five-year 90% LTV fixes will be reduced by 17bps to 4.59%

Purchase fee-saver with £300 cashback

Five-year 85% LTV fixes will be reduced by 15bps to 4.54%
Five-year 90% LTV fixes will be reduced by 28bps to 4.72%
Five-year 95% LTV fixes will be reduced by 18bps to 5.14%

Exclusive purchase with £300 cashback

Five-year 80% LTV fixes, with £895 fee, will be reduced by 10bps to 4.22%
Five-year 90% LTV professional fee-savers will be reduced by 28bps to 4.71%

The lender’s further cuts include:

Selected shared ownership rates will be reduced by up to 24bps, with rates starting from 4.29%
Selected Own New rates will be reduced by up to 20bps, with rates starting from 0.45%.
Selected retrofit boost rates will be reduced by up to 20bps, with rates starting from 4.29%
But-to-let rates, with a £2,195 fee, will be reduced by up to 14bps, with rates starting from 4.17%
Selected BTL rates, with a £995 fee, will be reduced by up to 12bps, with rates starting from 4.44%
Selected 65% LTV and 75% LTV product transfer rates will be reduced by up to 15bps with rates starting from 3.94%

The post Virgin Money cuts resi and BTL rates by up to 28bps   appeared first on Mortgage Strategy.

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