Virgin Money cut BTL and residential rates

Virgin Money is reducing interest rates across a number of its residential and Buy to Let mortgage products. The updated range will be available from Thursday 16 August 2012.

Related topics:  Mortgages
Amy Loddington
16th August 2012
Mortgages
- 2 year fixed rates available from 2.89% at 60% LTV

- 2 year fixed rate BTL at 60% LTV with a £1,995 fee now 3.79%

- Selected 3 year and 5 year fixed rates reduced by 0.30%

- Selected 2 year and 3 year Trackers reduced by up to 0.26%

2 year fixed rates at 60% LTV will be available to both purchase and remortgage customers at 2.89% with a product fee, or 3.29% with no product fee. As with all other products in the core range, customers remortgaging from another lender will benefit from free standard legal services and a free basic valuation.

A number of other rate reductions are also being made across the product range. 2 year, 3 year and 5 year fixed rates will be reduced across the 60% and 70% LTV tiers. Selected 2 year and 3 year Trackers will also be reduced by up to 0.26%. Cashback of up to £300 also remains available on a selection of residential purchase products.

The lender’s Buy to Let (BTL) 2 year fixed rate at 60% LTV with a product fee of £1,995 will be reduced by 0.20% to just 3.79%. The Buy to Let range continues to offer cashback of £500 across all products.  

The new mortgage products are offered by Northern Rock plc and are available through registered mortgage intermediaries as well as online, over the phone and through the nationwide network of stores.

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