Virgin Money to raise selected fixed mortgage rates

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Virgin Money will increase a range of fixed mortgage rates on Friday 5 September, alongside minimum loan size changes on selected product transfer options and the withdrawal of several exclusive remortgage products at 8pm today.

Within the exclusive purchase range, 75% LTV five-year fixes will rise by up to 0.22%, with rates starting from 4.22%. At 80% LTV, two and five-year fixes will increase by up to 0.17%, from 4.14%.

The 85% LTV five-year fix with a £895 fee will rise by 0.13% to 4.29%.

At higher LTVs, 90% LTV two and five-year fixes will increase by up to 0.17%, starting from 4.55%, while the 95% LTV two-year fee-saver will move up by 0.06% to 4.99%.

Across the core purchase range, 95% LTV two and five-year fixes will be increased by up to 0.10%, starting from 4.99%. Shared ownership fixes will rise by 0.10%, from 4.18%.

In buy-to-let, two and five-year fixes carrying a £2,195 fee will increase by up to 0.15%, with rates starting from 4.07%. Products at 60% LTV with a 1% fee will rise by 0.10%, from 4.03%.

Two and five-year fixes at 60% and 75% LTV with a £995 fee will also go up by 0.10%, starting from 4.26%. Fee-saver options on two and five-year fixes will increase by 0.10%, with rates from 4.57%.

For product transfers, selected two and three-year fixes will rise by up to 0.10%, starting from 3.84%, while selected five-year fixes will increase by up to 0.13%, from 3.91%. In addition, 65% and 75% LTV two-year fixes with a £1,995 fee will now carry a minimum loan size of £200,000, and the corresponding five-year fixes will have a £100,000 minimum.

Buy-to-let product transfer fixes will rise by 0.05%, starting from 3.82%.

Separately, from 8pm today, Virgin Money will withdraw four exclusive remortgage products: the 75% LTV two-year fix with a £995 fee at 3.99%, the 75% LTV two-year fee-saver at 4.40%, the 75% LTV five-year fix with a £995 fee at 4.01%, and the 75% LTV five-year fee-saver at 4.17%.

Applications for these withdrawn products must be submitted by 8pm today.

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