Virgin cuts high LTV fixes
To 85% LTV its 3-year fix has been reduced by 0.07% to 3.25% and its 5-year fix by 0.05% to 3.03%, both with a £995 product fee and £300 cashback for purchasers.
To 90% LTV meanwhile 3-year fixes have been cut by 0.20% to 3.25%, while 5-year fixes have been reduced by 0.13% to 3.55%, both with a £995 product fee and £500 cashback for first-time buyers and £300 for homemovers.
In terms of the new buy-to-let products offered exclusively through intermediaries, to 60% LTV its 2-year fix stands at 2.19% and its 5-year fix is 3.24%, both with a £1,995 product fee and £500 cashback.
Borrowers can also take out a 60% LTV 2-year tracker at 2.29% (Bank of England Base Rate +1.79%) with a £995 product fee and £500 cashback.
Peter Rogerson, Virgin Money’s commercial director for mortgages, said: “We are delighted to announce these latest reductions to our higher LTV range, helping borrowers with smaller deposits.
“Virgin Money remains committed to ensuring our intermediary partners have access to our most attractive mortgages, and the new range of buy-to-let products continues to deliver on that promise.”