Virgin Money has repriced a selection of fixed-rate products available to brokers, cutting rates across its exclusive purchase, buy-to-let and product transfer ranges.
Meanwhile, Halifax intermediaries have announced reductions of up to 0.11% on selected homemover and first-time buyer deals, giving advertisers update pricing options across key lending segments.
The changes, effective from 20 January, apply to two-, three-, and five-year fixed products across multiple loan-to-value tiers.
Key takeaways:
- Halifax is reducing selected homemover and first-time buyer rates by up to 0.11%.
- Virgin Money is cutting purchase, BTL, shared ownership and product transfer rates by up to 0.24%.
- Changes take effect from 20 January
- Reductions spawn two-, three-, and five-year fixed products across multiple LTV bands.
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The rate cuts include reductions of up to 0.06% on two-year fixed rates, decreases of up to 0.04% on three-year fixed rates and falls of up to 0.11% on five-year fixed rates.
Halifax’s two-year fix with a £999 fee at 60% loan to value (LTV) will be 3.55%, while its five-year fix with no fee at the same LTV is 3.88%. Going up to 75% LTV, the two-year fix with a £999 fee is 3.6% and the five-year equivalent is 3.83%. With no fee, the five-year fix at 75% LTV is 3.91%.
Virgin Money to lower rates by up to 0.24%
Virgin Money will reduce selected exclusive purchase, purchase, buy-to-let (BTL) and product transfer rates by up to 0.24% from 20 January.
Within its exclusive purchase range, around seven products between 75% LTV and 90% LTV on both two- and five-year terms have been changed.
This includes its two-year fixed rate fee-saver deal at 80% LTV, which will go down by 0.15% to 3.9%.
In its purchase range, two- and five-year fixed rates, along with shared ownership rates, have been lowered by up to 0.24%.
Two-year fixed rates with a £99 fee will be cut by up to 0.24% and start from 2.79%, while fee-savers will decrease by up to 0.21% and begin from 3.98%.
Five-year fixed rates with a £999 fee will reduce by up to 0.14% and are priced from 3.86%, while its fee-saver equivalent will fall by up to 0.1% and start from 3.97%.
Shared ownership fixed rates will be cut by up to 0.24% and begin from 3.79%.
On the BTL side, six products on two- and five-year fixed rate terms between 60% and 75% LTV will fall by around 0.21%.
An example includes its two-year fixed rate with a £2,195 fee at 75% LTV going down by 0.21% to 3.87%.
Within its product transfer range, four products have been cut by up to 0.06%.
This includes its two-year fixed fee-saver rate at 75% LTV going down by 0.06% to 4.08%.
In November, the firm lowered rates by up to 0.29%.
