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Virgin Money cuts rates and adds shared ownership green mortgages

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  • 01/07/2021
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Virgin Money cuts rates and adds shared ownership green mortgages
Virgin Money has brought in two 85 per cent loan to value (LTV) shared ownership green mortgage products to cater for carbon-conscious customers.

 

The products include a two-year fixed with a rate of 2.28 per cent and a five-year fixed at 2.63 per cent. Both are subject to a £995 fee.

Additionally, the lender introduced a five-year fixed intermediary exclusive at 80 per cent LTV, which has a £1,000 cashback, and has a rate of 2.15 per cent.

Virgin Money has also made a series of rate cuts on its core residential range between 75 per cent LTV and 95 per cent LTV of up to 0.52 per cent, including its two and five-year fixed greener mortgage products at 85 per cent LTV.

The two-year fixed greener mortgage has been reduced by 0.1 per cent to 2.13 per cent and the five-year fixed greener mortgage has been decreased by 0.05 per cent to 2.48 per cent.

The lender has also cut its five-year fixed at 75 per cent LTV fee-saver has been cut by 0.52 per cent to 1.76 per cent.

Virgin Money reduced the rates by up to 0.25 per cent on select shared ownership products between 85 and 90 per cent LTV.

The lender’s two-year fixed fee-saver at 85 per cent LTV will now stand at 2.74 per cent, down from 2.99 per cent. Its five-year fixed at 85 per cent LTV has fallen from 2.95 per cent to 2.73 per cent.

Virgin Money has also expanded the LTV on buy to let fixed products from 60 per cent LTV to 65 per cent LTV.

The changes come into effect from tomorrow.

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