Virgin Money ups mortgage rates across 5-year fixed product range

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Mortgage Soup
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Virgin Money is implementing a series of mortgage rate increases across its 5-year fixed product range for purchase, remortgage, and product transfer customers, effective from Thursday 4 April.

The changes will affect a range of loan-to-value (LTV) bands, Shared Ownership, Own New, and Retrofit Boost products, as well as large loan products exceeding £1 million.

Key changes include:

Purchase:

  • 65%, 75% and 85% LTV 5-year fixed rates will increase by up to 0.10%.

  • 85% LTV Shared Ownership 5-year fixed rates will rise by 0.04%.

  • The 75% LTV £1m+ 5-year fixed rate will increase by 0.14%, reaching 4.58%.

  • Selected Own New 5-year fixed rates will rise by up to 0.10%.

  • Retrofit Boost 5-year fixed rates with a £995 fee will increase by 0.05%.

Remortgage:

  • 65% and 75% LTV 5-year fixed rates will increase by up to 0.08%.

  • The 75% LTV £1m+ 5-year fixed rate will increase by 0.09%, rising to 4.50%.

  • Retrofit Boost 5-year fixed rates with a £995 fee will also increase by 0.05%.

Product Transfer:

  • 65% and 75% LTV 5-year fixed rates will increase by up to 0.10%.