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Virgin Money and Leeds BS lower select rates – round-up

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  • 21/05/2024
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Virgin Money and Leeds BS lower select rates – round-up
Virgin Money will lower select buy-to-let (BTL) purchase and remortgage rates, along with select product transfer, shared ownership and Own New deals.

Virgin Money said that it would be making the changes to its BTL purchase and remortgage range from 22 May.

Within its BTL purchase and remortgage range, exclusive fixed rates with a 3% fee will be reduced by up to 0.04%, starting from 4.05%.

Exclusive fixed rates with a 1% fee will be cut by up to 0.05%, and will be priced from 4.67%, while exclusive fixed rates with a £2,195 fee will decrease by 0.1%, beginning from 4.57%.

Fixed rates with a £995 fee will be reduced by up to 0.19%, starting from 4.89%, and its fee-saver fixed rates will fall by up to 0.21%, priced from 5.19%.

From 8pm, the lender will be making several changes, including its residential product transfer at 65% and 75% loan to value (LTV), which will fall by 0.1%, starting from 4.43%.

BTL product transfer fixed rates will be cut by up to 0.15%, beginning from 4.51%, and shared ownership fixed rates will decrease by up to 0.1%, and will be priced from 4.59%.

Selected Own New fixed rates will be reduced by up to 0.13%, starting from 1.09%.

Leeds BS cuts rates and adds deals

Leeds Building Society will lower select rates in its mortgage range by up to 0.2% for a selection of deals at 75% and 90% LTV.

Two-year fixed rates up to 85% LTV are priced from 5.14%, and five-year fixed rates start from 5.39% up to 95% LTV.

The lender has also added fee-free options for two-year fixed rates up to 75% LTV and five-year fixed rates up to 95% LTV.

Jonathan Thompson, senior product and pricing manager at Leeds Building Society, said: “We have reduced rates on existing residential two-year fixed rate mortgages by up to 0.2% and have expanded the choice available to borrowers with the introduction of a new fee-free five-year fixed rate at 95% LTV.”

“By reducing interest rates in a dynamic mortgage market, and in turn bringing down the cost of monthly mortgage payments, we are putting the interests of our members first and delivering on our purpose to put homeownership within reach of more people.”

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