Across its buy-to-let remortgages, the 50 per cent loan to value (LTV) two-year fixed deal with a £3,995 fee has been reduced by 0.45 per cent to 4.18 per cent. The corresponding product at 60 per cent LTV has seen the same reduction and now has a rate of 4.28 per cent.
The equivalent five-year fix at 50 per cent LTV and 60 per cent LTV have been cut by 0.34 per cent each, and are now 4.2 per cent and 4.25 per cent respectively.
Richard Walker, head of intermediary sales at Virgin Money, said: “We know landlords looking for a new deal have seen market challenges over the last six months as rates have increased. To assist buy-to-let customers we have made some reductions to our range.”
Other changes
The lender has added a seven-year fixed remortgage for residential borrowers at 75 per cent LTV. This has no fee and a rate of 4.34 per cent.
Its residential purchase exclusive mortgages which are fixed for two or five years have been reduced by up to 0.1 per cent. Within the exclusive range, select purchase deals have been increased by 0.05 per cent and remortgages have been increased by up to 0.15 per cent. This affects two and five-year fixes.
Three-year fixes have been added to its core residential range up to 90 per cent LTV and rates start from 4.46 per cent.
Also in its core range, some residential and buy-to-let two and five-year fixes have had rate cuts of up to 0.33 per cent.
Its core residential 10-year fix at 75 per cent LTV with a £995 will go up in rate by 0.2 per cent. Selected two-year fixes in the same range will rise by up to 0.04 per cent.
Changes apply from 10 March.
