Virgin Money is reducing selected fixed rates across purchase, remortgage and product transfer ranges while withdrawing several exclusive and green products, with new pricing effective from Tuesday 9 December.
EXCLUSIVE PURCHASE
For exclusive purchase business, Virgin Money is trimming pricing at 75%, 80% and 90% LTV. At 80% LTV, the two-year fixed rate with a £895 fee will fall by 0.07% to 3.86%, while the two-year fee-saver option will reduce by 0.08% to 4.05%. The 90% LTV two-year fixed fee-saver will be cut by 0.09% to 4.23%.
In the exclusive five-year range, the 75% LTV fixed rate with a £895 fee will reduce by 0.10% to 3.89%, and the corresponding 80% LTV option will move down by the same margin to 3.99%.
The 75% LTV five-year fee-saver will fall by 0.14% to 3.99%, while the 80% LTV fee-saver will be reduced by 0.10% to 4.07%. The 90% LTV five-year fee-saver will edge down by 0.03% to 4.31%.
Across the broader purchase range, two-year fixed rates with a £999 fee will be reduced by up to 0.16%, with pricing starting from 3.91%. Two-year fee-saver products will fall by up to 0.17%, from starting rates of 4.11%.
Five-year fixed rates with a £999 fee will be cut by up to 0.25%, starting from 4.00%, and five-year fee-saver products will reduce by up to 0.26%, from 4.07%.
Selected shared ownership fixed rates will also be reduced by up to 0.14%, with new rates starting from 4.03%.
REMORTGAGES
For remortgage customers, selected two-year fixed rates with a £999 fee will reduce by up to 0.09%, starting from 3.84%, while selected two-year fee-saver products will also come down by up to 0.09%, from 4.18%.
Selected five-year remortgage fixes with a £999 fee will be reduced by up to 0.09%, starting from 3.92%, with fee-saver equivalents falling by up to 0.09% and starting from 4.09%.
PRODUCT TRANSFERS
On product transfers, Virgin Money is cutting selected two-year fixed rates by up to 0.07%, with pricing starting from 3.55%. Selected three-year fixed rates will reduce by up to 0.10%, from 3.80%, while selected five-year fixed rates will fall by up to 0.10%, starting from 3.66%.
PRODUCT WITHDRAWALS AND KEY CUT-OFFS
The lender has confirmed that a number of exclusives and incentives will be withdrawn at 8pm today, Monday 8 December. These include the 85% LTV five-year fixed exclusive with a £895 fee at 4.17%, which will come off the market this evening.
Retrofit Boost deals will be withdrawn from the exclusive purchase, exclusive remortgage and exclusive buy-to-let ranges. In addition, Own New deals will be withdrawn from the exclusive purchase range.
Brokers submitting applications for any of the products being withdrawn are being asked to ensure that full applications are received by Virgin Money by 8pm today.
The lender has also highlighted an important deadline for cases where a previously submitted product transfer is due to complete on 31 December 2025. In these instances, any request to switch the product must reach Virgin Money no later than 10 December 2025.
Product switch requests received after that date for accounts completing on 31 December 2025 will be rejected, as they would result in the customer making a standard variable rate payment in January.
