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Virgin Money refreshes residential and buy-to-let ranges

by: Mortgage Solutions
  • 02/12/2015
  • 0
Virgin Money refreshes residential and buy-to-let ranges
Virgin Money has reduced rates on higher loan-to-value (LTV) fixed rate residential products while cutting selected rates on buy-to-let products.

Selected cuts to its residential range include a 0.15% reduction to its 90% two-year fixed rate taking the rate down to 2.99%. The deal has no product fee and £300 cashback.

A five-year fixed rate at 90% LTV has been cut by 0.16% to 3.29% and comes with a £995 product fee, £300 cashback for purchases and £500 for first-time buyers. Further cuts have been made to three-year fixed rates.

Reductions to its buy-to-let range target LTV ranges from 60% to 75%. Its biggest reduction has been made to the two-year fixed rate at 60% LTV which is now available at 2.34% with a product fee of £995 and comes with £750 cashback.

The lender reported a 38% rise in gross mortgage lending in the first nine months to September which it attributed to strong relationships with its intermediary partners.

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