Virgin Money has reduced rates on selected high loan-to-value (LTV) fixed rate mortgages and has launched some intermediary exclusive remortgage-only products.
There are three 2-year fixed rate products, one at 85% LTV at 1.92% with a £995 fee, one at 90% LTV at 1.94% with a £995 fee and one at 95% LTV at 2.99% with no product fee. There’s also 3-year and 5-year fixed rates at 95% LTV at 3.39% with no product fee.
Andrew Asaam, director of mortgages at Virgin Money, said: “Over the next six months it is estimated that 185,0001 first time buyers will be coming to the end of their current mortgage deal.
“Therefore we are delighted to support these customers who may be switching for the first time or have lower equity in their homes by launching a range of new higher LTV fixed rate products.”
There are also new Intermediary exclusives. There’s a 2-year fixed rate at 90% LTV remortgage special at 2.04% with a £995 fee and £500 cashback and free valuation.
There’s a 2-year fixed rate at 95% LTV purchase special at 3.45% without a fee and with £1,000 cashback.
For buy-to-let there’s a 2-year fixed rate at 60% LTV remortgage special at 1.54% with £2,450 fee and free valuation and free legals.