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Virgin adds limited 90 per cent LTVs; Dudley BS launches fee assisted remortgages – round-up
Virgin has added high loan to value (LTV) mortgages to its range and reduced rates across a number of tiers.
New products include two five-year fixed mortgages at 75 and 85 per cent LTV with respective rates of 1.79 per cent and 2.79 per cent. Both come with £1,000 cashback and are for purchases only.
There is also a two-year fixed 90 per cent LTV mortgage for first-time buyers with a rate of 3.29 per cent with cashback increased to £1,000.
These products will be available for a two-week period only.
Two permanent 90 per cent LTV mortgages which were previously exclusive to intermediaries have been introduced to its core range.
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Both products have fixed rates for two years and £500 cashback. The £995 option has a rate of 3.29 per cent and the fee-free alternative is set at 3.39 per cent.
The bank has also made rate reductions of up to 0.40 per cent including its fee-free 90 per cent LTV shared ownership deal, which is fixed for five years. The rate for this product has been reduced by 40 basis points to 4.09 per cent.
Elsewhere, a two-year fixed mortgage at 85 per cent LTV with a £995 fee has been cut to 2.69 per cent from 2.79 per cent.
Changes to the range are effective from tomorrow.
Dudley BS launches fee assisted remortgage deals
Dudley Building Society has launched three fee assisted remortgage products at 75 and 85 per cent loan to value (LTV).
The products come with free standard valuation, free legals and a fixed £499 administration fee.
They include a three-year fixed deal at 85 per cent LTV at 3.84 per cent and a two-year fixed product at the same tier with a discounted rate of 3.79 per cent.
There is also an interest-only deal which is discounted at 3.94 per cent for the term of the mortgage at 75 per cent LTV.
Sam Ward, commercial director at Dudley Building Society, said: “We are delighted to announce the launch of a range of fees assisted remortgage products.
“December was the biggest month for mortgage maturities in 2020, with almost 170,000 accounts reaching the end of existing deals, according to data from CACI.”
“We recognise now more than ever, how important it is to support broker customers by providing product options which suit their needs during this challenging time,” she added.