Virgin Money has introduced a new range of intermediary exclusives this week, as well as reducing its buy to let mortgage range. Changes to intermediary exclusives include a 2 year fixed rate at 50% loan to value (LTV) at 2.02%. This deal is available for remortgages only with a £1,995 product fee and £500 cashback.
A 5 year fixed rate at 50% LTV now stands at 3.09% for remortgages only, also with a £1,995 product fee and £500 cashback. This comes alongside the lender’s latest 2 year fixed rate at 2.39% for 60% LTVs with a £995 product fee and £500 cashback.
As far as Virgin Money buy to let rates for its core range are concerned, 2 year fixed rates at 75% LTV have been reduced to 2.54% with a £1,995 product fee and £500 cashback. 2 year tracker mortgages at 60% LTV have also seen reductions to 2.09%, which comes with a £995 product fee and £500 cashback.
Not only reducing selected core products and introducing buy to let exclusives, Virgin Money has also unveiled a mortgage range designed to help first time buyers with a 5% deposit to allay the cost of stamp duty charges. This new stamp duty exclusive range includes a 2 year fixed rate at 95% LTV priced at 4.29%, as well as a 5 year fix at 4.79%. Both these products have no fee and come with £1,500 cashback, making it a particularly sweet deal for first time buyers at a competitive rate.
The lender’s help to buy 5 year fixed equity loan at 75% has been discounted to 2.68% with a £995 product fee, whereas the fee-free option is priced at 2.93% (both deals come with £500 cashback.)
In other news, Virgin Money’s residential range has witnessed reductions of 0.31 of a percentage point for 2 year fixed to 3.98% with product fee and £300 cashback. 5 year fixes have equally been lowered by 0.2 of a percentage point to 4.69%, which comes with no fee and £300 cashback.