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Virgin Money and Generation Home cut rates; CHL bring back fixes – round-up

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  • 09/11/2022
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Virgin Money and Generation Home cut rates; CHL bring back fixes – round-up
Lenders continue to cut mortgage rates and bring deals back to the market with more providers today announcing changes.

Virgin Money has cut mortgage rates and added a new remortgage deal.

The lender has trimmed costs on select two and five-year fixed rates by up to 0.25 per cent and 0.45 per cent respectively.

A new two-year fixed remortgage deal of 5.7 per cent with £500 cashback and £995 fee has been added at 85 per cent loan to value (LTV).

At the same time, the lender’s 75 per cent LTC equivalent has had the rate reduced by 0.08 per cent to 5.35 per cent.

 

Generation Home reduces rates

Separately, Generation Home has actioned rate reductions on its two-year fixed rate products between 60 and 75 per cent LTV. Rates now start at 5.42 per cent with a £999 fee and 5.75 per cent fee free.

The lender said it has also reduced its stress rate to reflect “the moderation in interest rate expectations in recent weeks”.

Pete Dockar, Generation Home commercial director, said: “At a time when mortgage costs are rising for many, we are proud to once again lower our two-year fixed rates.

“Affordability is top of homeowners’ minds and we are doing all we can to keep their mortgage payments as low as possible.”

 

CHL bring back fixes

Elsewhere, CHL Mortgages has brought back two and five-year mortgage products across all its ranges.

Lenders have been cutting rates and relaunching deals in the past couple of weeks after a sharp increase in rates and reduction in products after the mini Budget in September.

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