Virgin Money has announced a series of rate reductions and the launch of new exclusive fixed rate products.
The new exclusives include fee-saver options for both purchase and remortgage customers, targeting borrowers with higher loan-to-value (LTV) requirements as well as those seeking to fix for the medium term.
On the purchase side, Virgin Money is introducing a 90% LTV 2-year fixed rate fee-saver at 4.51%, alongside a 95% LTV 2-year fixed at 4.93%. A new 5-year fixed fee-saver at 90% LTV will also be available at 4.40%.
For remortgage customers, the lender is launching two 75% LTV fixed rate fee-saver products, with the 2-year option priced at 4.40% and the 5-year at 4.17%.
EXCLUSIVE REDUCTIONS
In addition to these new launches, Virgin Money is reducing rates across several of its existing exclusives. Among the changes, its 80% LTV 2-year fixed with a £895 fee will drop by 0.08% to 3.97%, while the fee-saver version is being cut to 4.23%.
Other notable reductions include the 75% LTV 5-year fixed with a £895 fee, now 4.02% following a 0.05% decrease, and the 80% LTV 5-year fixed with fee, which falls by 0.07% to 4.09%. Fee-saver versions at both LTV bands are also being reduced.
On the remortgage side, Virgin Money is trimming its 75% LTV 2-year fixed with a £995 fee by 0.15%, bringing the rate to 3.99%. The equivalent 5-year product is being reduced by 0.13%, now priced at 4.01%.
Elsewhere, selected shared ownership fixed rates for purchases are being cut by up to 0.11%, with pricing starting from 4.08%.
The lender is also adjusting its product transfer range, with reductions of up to 0.10% on 75% LTV 2- and 3-year fixed rates, which now start from 3.89%.
