Virgin Money has cut rates on some of its Help-to-Buy mortgage products as part of a more extensive rate reduction.
A two-year Help to Buy mortgage at 90 per cent loan-to-value is now available at a fixed rate of 3.44 per cent with no fee and £300 cashback on new purchases.
Borrowers with deposits of only 5 per cent (95 per cent LTV) can get a two-year fix at a rate of 4.68 per cent, no fee and £300 cashback on new purchases.
Overall, Virgin Money has reduced rates by up to 0.8 percentage points across its product range.
Highlights include:
- Intermediary Exclusive two-year fixed rate at 80% LTV now available at 2.04%, with a £995 product fee and £300 cashback on new purchases.
- Two-year fixed rate at 85% LTV now available at 2.34%, with a £995 product fee and £300 cashback on new purchases.
- New Buy-to-let two-year fixed rate at 60% LTV now available at 2.99%, with no product or application fee (minimum loan size £100k).
- Buy-to-let three-year fixed rate at 75% LTV now available at 3.59%, with a £995 product fee and £500 cashback.
- Buy-to-let five-year fixed rate at 75% LTV now available at 4.09%, with a £995 product fee and £500 cashback.
“Our refreshed mortgage product range continues to reinforce Virgin Money’s strong competitive position in the mortgage market. Following the announcement of our “intermediary promises” earlier this week, these latest changes clearly demonstrate that Virgin Money is committed to providing greater choice for intermediaries and their customers, along with great service,” Peter Rogerson, Virgin Money’s Mortgage Director commented.
