Virgin reduces 2, 3 & 5-year fixes by 0.3pc
Its 2-year fixed rates up to 75% LTV are being reduced by 0.16% to 3.29%, with loans up to 60% LTV available at 2.68% (both with a £995 product fee). A 2-year tracker with a £995 product fee up to 75% LTV is also being reduced, by 0.16%, to 3.29%.
3-year fixed rates will be available at 2.95%, a reduction of 0.30% (up to 70% LTV with a £995 product fee). The equivalent product up to 75% LTV will reduce by 0.21% to 3.48%.
Selected 5-year fixed rates will also reduce, with loans up to 70% LTV available at 3.18% – a 0.21% reduction – and up to 75% at 3.65%, a 0.14% reduction (both with a £995 product fee).
A number of updates to the buy-to-let range have also been made. A 2-year fixed rate up to 60% LTV will be available at 3.75%, or up to 70% LTV at 4.15%. Both products have a £1,995 product fee. With a £995 product fee, a 2-year fixed rate up to 60% LTV will be available at 4.25%, and up to 70% LTV at 4.49%. The limited offer of £750 cashback on buy-to-let will no longer be available, with cashback across the buy to let range reverting to the previous level of £500.