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Halifax and Virgin Money cut high LTV and shared ownership mortgage rates

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  • 22/02/2021
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Halifax and Virgin Money cut high LTV and shared ownership mortgage rates
Halifax has cut rates on more than 20 homemover, first-time buyer and new build mortgages, including at its highest loan to values (LTVs).

 

The lender has made reductions to two and five-year fixed rate products across the 75 per cent and 90 per cent LTVs.

This includes the two-year 75 per cent LTV deal with £999 fee at 1.31 per cent and the 90 per cent LTV equivalent which is at 3.09 per cent. The five-year versions are at 1.66 per cent and 3.41 per cent respectively.

Selected rate reductions have also been made on three-year fixed rate products across the 75 per cent and 85 per cent LTV ranges.

Here the 75 per cent LTV zero fee deal is at 1.84, while the 85 per cent LTV option with £999 fee is at 2.69 per cent.

In the new build range, the two-year fix at 75 per cent LTV with £999 fee is at 1.51 per cent and the five year version up to 85 per cent LTV is at 3.03 per cent.

 

Virgin Money

Meanwhile, Virgin Money is cutting rates on some of its products by up to 31 basis points, including a pair of broker exclusives and shared ownership mortgages.

The broker exclusives with £1,000 cashback and £995 fee at 75 per cent and 85 per cent LTV for purchases have been reduced to 1.74 per cent and 2.69 per cent respectively.

Rate reductions across its core range include the 65 per cent LTV five-year fixed cut by 31 basis points to 1.68 per cent and the first-time buyer 90 per cent LTV five-year zero fee mortgage trimmed by seven basis points to 3.62 per cent.

Shared ownership deals see two of the biggest reductions.

The 90 per cent LTV five-year fixes with £995 fee and £0 fee have been reduced by 27bps and 31bps to 3.59 per cent and 3.78 per cent respectively.

 

Monmouthshire Building Society

Monmouthshire Building Society also introduced a range of five-year fixed deals at up to 80 per cent LTV, with purchase and remortgage options available.

Interest rates range from 1.5 per cent at 50 per cent LTV to 2.25 per cent at 80 per cent LTV, with a minimum loan size of £40,000 and maximum loan size of £1m.

 

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