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Platform and Virgin increase selected rates – roundup

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  • 29/11/2021
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Platform and Virgin increase selected rates – roundup
Platform has increased selected rates among its mainstream new business, mainstream product switch, and buy-to-let (BTL) products.

 

In its mainstream range, its two, three ad five-year fixed rates, both fee-free and fee options, have gone up between 0.05 per cent and 0.1 per cent. Its two-year fixed rate at 60 per cent LTV is now priced at 1.65 per cent.

On the BTL side, no-fee two-year fixed rates between 60 and 75 per cent LTV have increased by 0.15 per cent. This includes its two-year fixed rate at 60 per cent LTV which has a rate of 1.68 per cent.

Its no-fee five-year fixed rate between the same LTVs have also increased by around 0.05 per cent. An example is its five-year fixed rate at 60 per cent LTV, which has been priced at 1.82 per cent.

The lender has also reintroduced its two-year premier products in its BTL range. It has a minimum loan value of £350,001 and a maximum loan value of £500,000.

The lender made some reductions to its professional mortgage range, with two-year fixed rates falling by up to 0.2 per cent, and the five-year fixed rate between 85 and 90 per cent LTV has been cut by up to 0.19 per cent.

It has also cut its two-year fixed rate between 60 and 75 per cent LTV, both £999 fee and no-fee options, by up to 0.09 per cent. Its no-fee two-year fixed rate at 60 per cent LTV is now priced at 1.84 per cent, whilst its £99-fee option at the same LTV is now 1.75 per cent.

Virgin Money ups core and green range products

Virgin Money has increased rates in its core and green range between 65 and 75 per cent loan to value (LTV) by up to 0.12 per cent.

Its two-year fixed rate at 65 per cent LTV has increased by 0.02 per cent to 1.36 per cent. Its green equivalent with the same term and LTV has also grown by 0.02 per cent to 1.31 per cent. Both come with a £995 fee.

Its two-year fixed rate fee-save product has been upped by 0.06 per cent to 1.6 per cent.

On the five-year fixed rate side, its 65 per cent LTV product has grown by 0.12 per cent o 1.56 per cent and the green equivalent has jumped to 1.51 per cent, up from 1.39 per cent. Both have a £995 fee.

Its fee-free option at the same term and same LTV has increased by 0.11 per cent to 1.69 per cent.

The lender has also increased select 75 per cent LTV rates by 0.11 per cent and certain buy-to-let fixed rates have grown by 0.09 per cent.

In its product switch range, it has increased select mainstream and BTL products by up to 0.22 per cent.

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