Virgin Money has reduced rates across its residential and buy-to-let product ranges, including its broker exclusive, remortgage and product transfer ranges, by up to 0.45%.
In its exclusive purchase range, five-year fixed rates at 80% LTV now start from 4.52% with an £895 fee and 4.62% fee-free, both with £300 cashback.
For exclusive remortgage products at 80% LTV, rates have reduced by up to 15bps. Two-year fixes now start at 5.29% with an £895 fee or 5.69% fee-free, while five-year fixes are down to 4.80% with a fee and 4.97% fee-free.
Across Virgin's core purchase range, Retrofit Boost five-year fixed rates have reduced by up to 0.20%, with rates starting from 4.79%. Virgin launched the Retrofit Boost product earlier this month, designed to help borrowers improve their property’s energy efficiency by offering up to £15,000 cashback.
Own New fixed rates have decreased by up to 0.30%, with rates starting from 0.84%, while selected Fix & Switch fixed rates have been trimmed by up to 0.10%, now starting from 5.29%.
The Own New Rate Reducer scheme uses the incentives offered by housebuilders to provide lower mortgage rates for new build home purchasers, while the Fix and Switch range offers borrowers the security of a five-year fixed rate with the flexibility of being able to switch to another product with no early repayment charge after just two years.
Purchase fixed rates with a £995 fee will be reduced by up to 0.30%, now starting from 4.39%, while fee-free products are also down by up to 30bps and now start from 4.54%.
Green Purchase fixed rates will be reduced by up to 0.25% and cashback increased to £500, with rates starting from 4.39%.
85% LTV Shared Ownership fixed rates will be reduced by 0.10% and 75% LTV £1m+ fixed rates are down by up to 0.20%.
In Virgin's remortgage range, Retrofit Boost five-year fixes have reduced by up to 0.20%, selected Fix & Switch rates by up to 0.15%, and £1m+ products by up to 0.11%.
Its standard remortgage fixed rates with a £995 fee have decreased by up to 0.40%, with rates now starting from 4.39%, while fee-free products are down by up to 0.45% and now start at 4.59%.
Selected buy-to-let rates with 1% and 3% fees have reduced by up to 0.10%, while selected residential and buy-to-let product transfer rates have also reduced by up to 0.10%.
