This offering from Virgin Money includes a Fix and Switch fee-saver option for BTL portfolio borrowers with a two-year early repayment charge (ERC) period. There is a five-year fix at 60% loan to value (LTV) with a rate of 5.59% and an equivalent deal at 75% LTV with a rate of 5.69%. 

For corresponding deals with a £1,495 fee, the option at 60% LTV has a rate of 5.14%, while the 75% LTV option is priced at 5.29%. 

The residential remortgage fee-saver product is fixed for five years and available at 75% LTV with a 4.69% rate. It offers a free valuation and free legals. 

 

Rate changes 

Virgin Money will also be tweaking its rates, with some increases and reductions. 

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Its Fix and Switch purchase product rates will increase by up to 0.1% and start from 5.18%, while Fix and Switch remortgage pricing will rise by 0.05% and start from 4.94%. 

Its BTL Fix and Switch product at 60% LTV with a £1,495 fee will be increased by 0.05% to 4.94%. 

Additionally, Virgin Money will rate its two-year fixed purchase rates with a £995 fee up to 85% LTV by as much as 0.15%. 

Reductions include its two- and five-year fixed BTL mortgages with a 1% fee, which will be cut by 0.07% to start from 4.52%. 

These products were added to the Virgin Money offering at the start of the month. 

Its five-year fix for BTL borrowers at 60% LTV with a 3% fee will be reduced by 0.08% to 4.09%. 

Virgin Money’s five-year fixed exclusive remortgage product at 75% LTV with a £895 fee will go down from 4.59% to 4.54%. 

Changes will apply from 16 April.