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Nationwide and Virgin Money up rates – round-up

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  • 27/02/2024
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Nationwide and Virgin Money up rates – round-up
Nationwide has increased rates across its new business and existing customer range and is introducing a range of like-for-like remortgages at 95 per cent loan to value (LTV).

The remortgage deals at 95 per cent LTV are priced at 5.84 per cent for a two-year fixed rate with a £999 fee, and its fee-free deal is 6.14 per cent.

Its high-loan-to-value (LTV) like-for-like remortgage three-year fixed rate with a £999 fee is 5.7 per cent, and its no-fee version is 5.88 per cent. Its five-year fixed rates with a £999 fee come to 5.34 per cent, and its fee-free version is 5.49 per cent.

Like-for-like remortgage two-year tracker products are priced at 6.64 per cent with a £999 fee and 6.74 per cent with no fee.

In its new business range, new member moving rates from 60 to 95 per cent LTV have gone up, with pricing starting from 4.64 per cent for a two-year fixed rate, 4.54 per cent for a three-year fixed rate and 4.19 per cent for a five-year fixed rate.

Within its first-time buyer range, rates between 60 and 95 per cent LTV have gone up, with two-year fixed rates beginning from 4.64 per cent, 4.59 per cent for a three-year fixed rate and 4.29 per cent for a five-year fixed rate.

On the shared equity side, which can be used for new members moving and first-time buyers, products at 60, 75 and 80 per cent LTV have gone up, with two-year fixed rates beginning from 4.74 per cent and five-year fixed rates start from 4.39 per cent.

Within its remortgage range, deals from 60 to 90 per cent LTV have increased. Two-year fixed rates are priced from 4.69 per cent, three-year fixed rates start from 4.64 per cent and five-year fixed rates begin from 4.29 per cent.

In its existing business range, existing members moving between 60 and 95 per cent LTV have gone up. Two-year fixed rates start at 4.64 per cent, three-year fixed rates are priced from 4.54 per cent and five-year fixed rates start at 4.19 per cent.

Shared equity deals at 60, 75 and 80 per cent LTV have also gone up. Two-year fixed rates are priced from 4.74 per cent and 4.29 per cent for a five-year fixed rate.

Additional borrowing rates at 60 and 75 per cent LTV have increased, with two- and three-year fixed rates priced from 4.59 per cent and five-year fixed rates beginning from 4.19 per cent.

Switcher rates and switcher additional borrowing pricing start from 4.59 per cent for two-year fixed rates and 4.19 per cent for five-year fixed rates.

It is the second time this month that Nationwide has increased rates.

 

Virgin Money increases rates

Virgin Money has increased select exclusive, core and product transfer rates by up to 0.2 per cent, with the changes coming into force from 8pm on 27 February.

On the exclusive side, its exclusive purchase fixed rates at 85 per cent LTV will be increased by 0.05 per cent, with rates starting from 4.69 per cent.

At 90 per cent LTV, purchase exclusive fixed rates will go up by 0.1 per cent, with pricing beginning from 4.65 per cent. At 95 per cent LTV, the increase is 0.05 per cent, with rates starting from 5.64 per cent.

For remortgage exclusive fixed rates, at 60 and 75 per cent LTV, the increase is by 0.05 per cent with pricing starting from 4.44 per cent.

In its core range, its two-year purchase fixed rates will be upped by 0.1 per cent, with rates beginning from 4.89 per cent.

Within the product transfer range, two-, three- and five-year fixed rates at 65 and 75 per cent LTV will rise by 0.13 per cent, with pricing starting from 4.3 per cent.

Two- and three-year fixed rates between 80 and 95 per cent LTV will go up by 0.2 per cent, with rates starting from 5.34 per cent.

Five-year fixed rates between 80 and 95 per cent LTV will rise by 0.1 per cent, with pricing beginning from 4.94 per cent.

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