Virgin Money and Clydesdale Bank’s standard variable rate (SVR) will fall from 8.24% to 7.74%, while Virgin Money’s buy-to-let (BTL) variable rate will decrease from 8.44% to 8.24%.
Clydesdale Bank said its offset variable rate will go down from 8.45% to 7.74% and its BTL variable rate and offset variable investment housing loan rate will move from 8.74% to 8.24%.
The lenders recently tweaked their lending into retirement policies, including retirement age, retirement income and maximum age, to better align the two firms.
RAW Capital Partners adds five-year fixed rates
RAW Capital Partners has introduced a range of five-year fixed rates with discounted rates for expats, larger loans and completions before the end of the tax year.
How the housing landscape is set to shift
Sponsored by Halifax Intermediaries
The five-year fixed rate has a minimum loan of £150,000 and a maximum loan to value (LTV) of 55%.
UK expat five-year fixed rates are priced at 6.99% for loans over £1m or 7.25% for loans under £1m. For other borrowers, the pricing comes to 7.25% over £1m and 7.5% under £1m.
An additional 0.25% discount is available on loans completing before the end of the UK tax year on 5 April 2025.
Tim Parkes, chief executive of RAW Capital Partners, said: “We’re delighted to reveal our new rates, which have been refreshed to ensure we’re well-placed to meet the demands of brokers and their clients in 2025. As ever, we remain keenly focused on serving international borrowers, particularly with our range of products that are tailored to the needs of UK expats.
“Non-UK residents, including expats, have long been under-served by the mortgage market, but we have changed that, ensuring our products and services solve their pain points and allow them to pursue exciting property investment opportunities in the UK. We’re confident these latest changes to our products will be well-received by brokers and borrowers alike, and we look forward to expanding our network of clients in the months to come.”
