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Virgin Money cuts BTL and fixed rates

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  • 02/08/2012
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Virgin Money cuts BTL and fixed rates
Virgin Money is reducing interest rates across some of its residential and buy-to-let (BTL) mortgage products, offered by Northern Rock and is adding a new 60% LTV tier for residential mortgage customers from tomorrow.

The new 60% LTV fixed rates will be available to both purchase and remortgage customers at 2.99% with a product fee, or 3.39% with no product fee.

Remortgagors are offered free legals and a basic valuation.

Other rate cuts include the 70% LTV two-year fixed rate to 3.19%, with rates at 80%, 85% and 90% also reduced by up to 0.20%. The lender will reduce its three-year fixed rates to 3.49% up to 70% LTV with a product fee and its five-year fixes will be reduced to 3.59% up to 70% LTV, and 3.79% up to 75% LTV.

Cash back of up to £300 also remains available on a selection of residential purchase products.

Buy to let fixed rate loans have been reduced by up to 0.41%, and will be available from 3.99% for two years, 4.39% for three years or 4.59% for five years. The buy to let range continues to offer cash back of £500 on completion.

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