Virgin Money reduces resi rates by up 12bps, adds BTL portfolio exclusives 

By: ameer@trustedteam.com

Virgin Money has cut selected rates by up to 12 basis points and launches a range of BTL portfolio exclusives. 

Virgin-Money.jpg

Highlights of its changes include:  

Purchase exclusives, with a free valuation and a £1,295 fee 

  • 75% loan-to-value two-year fixed-rate deals will be reduced by 10bps to 5.60% 
  • 65% LTV five-year fixed-rate deals will be reduced by 6bps to 5.07% 
  • 65% LTV two-year fixed-rate deals will be reduced by 5bps to 5.60% 

Purchase fixed-rate fee-savers 

  • 75% LTV two-year fixed-rate deals will be reduced by 12bps to 5.87% 
  • 65% LTV two-year fixed-rate deals will be reduced by 10bps to 5.87% 
  • 65% LTV five-year fixed-rate deals will be reduced by 9bps to 5.19% 
  • 85% LTV two-year fixed-rate deals will be reduced by 7bps to 6.22% 

BTL portfolio exclusives, with a £2,195 fee 

  • 50% LTV two-year fixed-rate offers will be launched at 6.06%
  • 60% LTV two-year fixed-rate offers will be launched at 6.15%
  • 75% LTV two-year fixed-rate offers will be launched at 6.18% 
  • 50% LTV five-year fixed-rate offers will be launched at 5.62%
  • 60% LTV five-year fixed-rate offers will be launched at 5.67%
  • 75% LTV five-year fixed-rate offers will be launched at 5.82% 

The lender adds that its selected product transfer fixed-rate loans will be cut by up to 10bos, with rates starting at 5.18%.

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