Virgin Money has announced new mortgage rates for all of its buy to let and residential home mortgage packages. The new range of products follows reductions that were made this past May and April and will be available for customers to access starting immediately. Both re-mortgage and new customers looking to purchase a product can take advantage of the rates.
Some of the rates moved upwards however so it pays to be prudent when looking at package options. For instance, the five year fixed rate for a 70% LTV now sits at 2.99% which is a slight increase over the previous offering of 2.85%.
In addition, new two-year fixed rates are now available to customers that start at 2.13% for those that can afford a 60% LTV and pay an associated £995 product fee. A ‘saver’ option is also available for those that cannot afford the product fee upfront although it comes with a higher attached 2.49%.
Other changes announced by Virgin Money include a change in its 70%LTV mortgage products. Within this range of products there is now a two year fixed available at 2.19% as well as tracker starting at 2.19%. Both of these include a £995 product fee. For those who need a fee saver option the two year fixed is set at 2.59% while a three year term is available that locks customers in at 2.74%.
There is also an 80% LTV option for those who cannot afford such a high deposit with rates for a two year fixed starting at 3.05% and for an 85% LTV at 3.49%. Both of these deals also have an associated £995 product fee although they come with a £300 cashback incentive offer. Buy to let rates have also been reduced by Virgin Money with a two year fixed offering of 2.99% that comes with a 2.5% product fee attached to it but a £750 cashback incentive offer.