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Virgin unveils three new products and Clydesdale adds large loans deal

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  • 17/06/2021
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Virgin unveils three new products and Clydesdale adds large loans deal
Virgin has unveiled three new mortgage products and a slew of rate cuts across its ranges to take effect from Friday.

 

The new products include a two-year fixed rate mortgage in the lender’s purchase exclusive £1,000 cashback range, which comes with a rate of 1.28 per cent at 75 per cent loan to value (LTV), and a £1,495 fee.

There is also a new 80 per cent LTV option in the same range, fixed for two years at 1.93 per cent, with a £995 fee.

Additionally, the lender has cut rates on other two and five-year deals in the range, such as reducing the five-year fixed at 85 per cent LTV by 0.12 per cent to 2.58 per cent.

The other new product announcement was a three-year fixed-rate fee saver deal, with a rate of 3.64 per cent at 95 per cent LTV.

There were further rate cuts of around 0.2 per cent on the core residential range two and three-year fixed products, across the LTV range.

 

Virgin rate cuts across the range

Virgin’s Greener Mortgage range saw cuts of 0.2 per cent on the two-year fixes at 65 and 75 per cent LTV, both with a fee of £995.

At 85 per cent LTV, a two and a five-year fixed Greener Mortgage were reduced by 0.05 per cent, to 2.23 per cent and 2.53 per cent respectively, both with a £995 fee.

Buy to let (BTL), BTL portfolio and shared ownership mortgages also saw a slew of rate cuts across two and five-year deals.

Highlights included a 0.24 per cent cut on a five-year fixed BTL deal at 80 per cent LTV, giving a rate of 3.35 per cent, and a £995 fee.

In BTL portfolio, the five-year fixed at 60 per cent LTV was reduced by 0.21 per cent to 1.88 per cent, with a £1,999 fee.

Meanwhile rate cuts across the lender’s shared ownership range included a 0.44 per cent reduction on the two-year fee saver at 85 per cent LTV, to 2.99 per cent.

 

Clydesdale Bank adds new large loan deals

Clydesdale Bank has introduced new rates on loans of more than £1m and cut rates on other residential deals.

The new product offers a two and five-year fixed product with rates starting at 1.79 per cent, on loans of more than £1m, at 65 per cent LTV, with a £1,999 fee.

Rate were cut on some 80 and 85 per cent LTV, two and five-year fixed deals, by up to 0.11 per cent and 0.08 per cent respectively.

The rate on the lender’s professional and newly qualified professional two and five-year fixed products, at 85 per cent LTV, were reduced by up to 0.05 per cent.

Clydesdale Bank also said it would withdraw its exclusive two and five-year fixed rate deals at 90 per cent LTV, with a £1,999 fee.

Meanwhile, rates were increased by 0.1 per cent on the exclusive professional range, on two and five-year fixed deals at 90 per cent LTV.

The same rate increase applies to the London and South East two and five-year fixed deals at 90 per cent LTV.

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