Virgin Money unveils new residential and buy-to-let products

Published on

Virgin Money is introducing a range of new products on Thursday 30 January, providing more options for homeowners and landlords.

The Fix and Switch remortgage range includes a 75% loan to value (LTV) fixed rate at 4.89% and an 85% LTV fixed rate at 5.24%, both offering a free valuation and free legal services.

GREEN OPTIONS

For those looking to purchase a property with an environmentally friendly approach, the green purchase range comes with a free valuation and a £200 cashback incentive. Options include a 75% LTV two-year fixed rate at 4.88%, an 85% LTV two-year fixed rate at 5.01%, and a 90% LTV two-year fixed rate at 5.39%.

The five-year fixed rate options include a 75% LTV deal at 4.59%, an 85% LTV product at 4.77%, and 4.92% for 90% LTV.

The retrofit boost range is designed to support homeowners investing in energy-efficient upgrades. A 75% LTV five-year fixed rate with a £995 fee and £5,000 cashback is available at 4.97%, while an 85% LTV option at the same cashback level is priced at 5.04%. Higher cashback options include a 75% LTV five-year fixed rate at 5.49% and an 85% LTV at 5.56%, both offering £10,000 cashback with a £995 fee.

BUY-TO-LET

For buy-to-let investors, the retrofit boost range includes a 75% LTV five-year fixed rate with a £1,995 fee and £5,000 cashback, priced at 5.07%.

In addition to the new launches, a series of rate changes have taken effect at 8pm on Wednesday 29 January. Some 80% LTV exclusive fixed rates have be reduced by up to 0.07%, while selected 90% LTV fixed rates have seen an increase of up to 0.06%. Shared ownership fixed rates have increased by up to 0.10%, and the 90% LTV Own New two-year fixed rate has increased by 0.04%. Green fixed rates with a £995 fee now come with a free valuation and £200 cashback.

PRODUCT TRANSFERS

For product transfers, some 75% LTV rates have been reduced by up to 0.09%.

Several products have also been withdrawn, including the 90% LTV fix and switch purchase with a £1,495 fee at 5.08%, as well as the 75% and 85% LTV fix and switch remortgage options at 4.94% and 5.24% respectively.

Retrofit boost withdrawals include the 75% LTV five-year fixed rate with £3,000 cashback at 4.79% and the 85% LTV equivalent at 4.81%. The buy-to-let retrofit boost five-year fixed rate at 4.78% with £3,000 cashback has also been withdrawn.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Growth in mortgage and rent spending slows as buyers brace for higher repayments

Growth in consumer spending on mortgages and rent slowed for the third consecutive month...

Mortgage Guarantee Scheme to be made permanent

The government’s latest Spending Review has confirmed the Mortgage Guarantee Scheme is set to...

Soaring house prices put childhood towns beyond reach for many Brits

The dream of returning to one’s childhood hometown is slipping out of reach for...

Black & White Bridging expands broker breakfast events nationwide

Black & White Bridging is rolling out its ‘Breakfast for Brokers’ networking series across...

Time Finance expands invoice finance division with senior SE hire

Time Finance has appointed Paul Rice as business development manager within its invoice finance...

Latest opinions

Open banking and smart data transformed finance – now it’s time to do the same for property

The UK is set for a 'smart data' revolution, a revolution which began with...

Richard Pike: Day two from the Global ABS Conference in Barcelona

We’re just coming to an end of day two at the Global ABS conference....

Service isn’t just a ‘nice-to-have’ – it is the product

Have you ever had a decent meal in a restaurant ruined by slow service...

Richard Pike: our reporter-at-large at Barcelona APS conference

The Global Asset Backed Securities (ABS) conference starts today at the International Convention Centre,...

Other news

Open banking and smart data transformed finance – now it’s time to do the same for property

The UK is set for a 'smart data' revolution, a revolution which began with...

Growth in mortgage and rent spending slows as buyers brace for higher repayments

Growth in consumer spending on mortgages and rent slowed for the third consecutive month...

Mortgage Guarantee Scheme to be made permanent

The government’s latest Spending Review has confirmed the Mortgage Guarantee Scheme is set to...