In its new customer and product switch range, the lender has brought out two and five-year fixed rates at 65 per cent LTV for interest-only customers starting from 4.06 per cent.
Clydesdale Bank has also cut selected 80 to 90 per cent LTV fixed rates by up to 0.1 per cent in its new customer range.
The lender has also cut new customer and product transfer professional and newly qualified professional fixed rates at 85 to 90 per cent LTV by up to 0.1 per cent.
In its new customer and product transfer range selected 65 to 75 per cent LTV exclusive £1-2m fixed rates have been reduced by up to 0.09 per cent, along with selected 65 to 80 per cent LTV £1m plus fixed rates.
The lender has also lowered selected buy-to-let rates between 60 and 75 per cent LTV by around 0.13 per cent in its new customer and product transfer range.
Richard Walker, head of intermediary sales at Virgin Money said: “We are pleased to launch a new range of interest-only products at 65 per cent LTV for new and existing customers. This is an addition to a number of rate reductions made across our residential and buy-to-let fixed rates.”
Coventry BS expands range with offset and interest-only options
Coventry Building Society has broadened its product range with additional offset and interest-only options.
Two and five-year fixed rates are available for new and existing customers, with existing offset and interest-only products also being cut.
The lender’s two-year offset fixed rate at 65 per cent LTV with £999 fee is priced at 4.51 per cent.
Coventry will also offer a two-year fixed interest-only rate at 50 per cent LTV at 4.66 per cent.
Both are available for purchase and remortgage with a choice of £350 cashback or remortgage transfer service for remortgage applications.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “We want to make sure brokers have access to the wide range of products they need.
“Offset has become increasingly popular, and we have seen strong demand from brokers to enhance the range and choice available. Education in this offering is so important and there are lots of resources available on our website to support this often misunderstood product.
“Offset and interest-only products can be great options for borrowers to consider, and brokers can make all the difference in guiding their clients through the features of these rates.”
