Virgin Money has announced rate increases of up to 0.10% across its residential range and introduced new buy-to-let product transfer fixed rate deals.
The new buy-to-let product transfers include two-year fixed rates from 4.84% at 60% LTV and 5.14% at 75% LTV, while five-year equivalents are priced at 4.61% and 4.81%. All products come with a £3,995 fee.
New buy-to-let product transfer tracker deals have also launched, with two-year fixed rates starting at 5.79% up to 60% LTV and 6.21% at 75% LTV, both with a £1,995 fee.
Virgin has also announced selected rate increases across its existing residential range.
Selected product transfer fixed rates have risen by up to 0.10%, now starting from 4.38%.
90% LTV Fix and Switch and professional fixed rates with no fee have seen increases of up to 5bps, while selected remortgage fixed rates have increased by 0.10%, starting from 4.79%.
Greener new build fixed rates have increased by 5bps and Own New Rate Reducer rates have increased by up to 10bps.
As part of the changes, the Own New Rate Reducer 5% incentive fee has increased by £500, to £995.
In addition, Virgin has extended its green reward offer, a sustainability initiative that rewards existing customers with £250 cashback for making green home improvements.
The green reward registration deadline has extended from June to 31st December 2024, while the claim deadline has moved to 30th June 2025.
Green reward is open to residential and buy-to-let customers taking additional borrowing, or a product transfer with additional borrowing, and who then spend at least £2,500 on eligible green home improvements. This includes changes to the property that increase energy efficiency or reduce the carbon footprint.
