Virgin Money has announced a number of changes to its mortgage range ready for the year ahead, with some deals on offer now designed to help those with smaller deposits. Virgin Money is one of the first lenders to be kick-starting the new year with a refreshed mortgage range with first time buyers at the forefront of their offering, including reduced Help to Buy rates and cashback specials to soften the blow of stamp duty changes.
New stamp duty special deals have been added to Virgin Money’s latest product range, which consist of enhanced cashback offers. These include a 2 year fixed rate at 95% loan to value (LTV), now available at 4.29% with no product fee and £1,500 cashback, as well as a 5 year fixed rate at 95% LTV available at 4.79%, also with no product fee and £1,500 cashback.
Virgin Money has equally made key changes to its residential mortgages. 2 year fixed rates at 95% LTV have been reduced by 0.31% to 3.98% with no product fee and £300 cashback, while 5 year fixed rates at 95% LTV were reduced by 0.2% to 4.69% – also with no product fee and £300 cashback.
It’s not just high LTVs witnessing changes, however, with Virgin Money’s 5 year fixed rate at 65% also reduced by 0.21% to 2.54% with no product fee.
Finally, as many lenders continue to offer a helping hand to those taking the first step onto the ladder, Virgin Money has reduced its rates for new builds. 2 year fixed rate intermediary exclusives at 85% LTV have been reduced by 0.09% to 2.05% with a £995 product fee and £500 cashback. Its Help to Buy Equity Loan 5 year fixed rate at 75% LTV has also been reduced by 0.15% to 2.68% with the same product fee and cashback offer. Finally, the Help to Buy Equity Loan 5 year fixed rate at 75% LTV witnessed reductions of 0.1% to 2.93% with no product fee and £500 cashback.