From 13 February, the lender will cut select standard residential fixed rates for remortgage by between 0.05 per cent and 0.16 per cent. This applies to new borrowers.
Also, for new business, all BTL fixed rates will be reduced by between 0.05 per cent and 0.15 per cent.
Santander will also lower the corresponding options in its product transfer range by the same amount.
Elsewhere, the bank will be increasing its one-year fixed residential product transfer rates by between 0.07 per cent and 0.17 per cent.
Earlier this month, Santander lowered purchase rates by up to 0.2 per cent.
Clydesdale makes rate changes
Clydesdale Bank has made a series of changes to its range.
From 8pm on 12 February, the lender will increase select residential fixed rates by up to 0.2 per cent, and withdraw exclusive residential purchase products at 65 per cent loan to value (LTV) and selected professional and newly qualified professional deals.
Applications must be submitted by 8pm to secure outgoing products.
From 13 February, Clydesdale Bank will reduce select two- and five-year fixed rates at 95 per cent LTV by up to 0.3 per cent, and select fixed rates for professional and newly qualified professional options will be cut by up to 0.6 per cent.
The minimum loan size for professional mortgages has also been lowered to £100,000.
Within its exclusive range, the lender has added two- and five-year fixed rates to its interest-only range at 65 per cent LTV and 75 per cent LTV for borrowing amounts between £1m and £2m. Rates across this range will start at 4.18 per cent.
The minimum loan size across select purchase and remortgage fixed rates in its exclusive offering will be lowered to £150,000.
Virgin launches broker campaign
Virgin Money has set up a broker campaign where it will offer prizes in return for feedback on its service.
The first prize announced for the ‘Bringing you more in 2024’ campaign is a two-week safari trip to Kenya.
Richard Walker, Virgin Money’s head of intermediary sales, said: “The ‘Bringing you more in 2024’ campaign is all about getting genuine feedback from our intermediary partners so that we can continue to make our service the best it possibly can be. ‘Bringing you more’ offers a years’ worth of money-can’t-buy prizes, and the feedback we receive will be invaluable in helping us address key issues within our mortgage process.”
