Virgin Money launch 60% LTV

Virgin Money is reducing interest rates across a number of its residential and buy to let mortgage products, and is also adding a new 60% LTV tier for residential mortgage customer

Related topics:  Mortgages
Amy Loddington
2nd August 2012
Mortgages
- New 60% LTV 2 year fixed rate available from 2.99%

- 2 year fixed rates reduced across LTV tiers, including 90% LTV, by up to 0.20%

- Residential 3 year fixed rates reduced – available from 3.49% at 70% LTV

- Selected 5 year fixed rates reduced by 0.20%

The updated range will be available from Friday 3 August 2012.

The new 60% LTV fixed rates will be available to both purchase and remortgage customers at 2.99% with a product fee, or 3.39% with no product fee.  As with other products in the range, customers remortgaging from another lender will benefit from free standard legal services and a free basic valuation.

A number of rate reductions are also being made across the existing product range.  2 year fixed rates will be reduced across LTV tiers from 70% to 90% – so customers with lower deposits will also benefit.  The 70% LTV 2 year fixed rate will be reduced to 3.19% (with a product fee), with rates at 80%, 85% and 90% also reducing by up to 0.20%.  3 year fixed rates will fall to 3.49% (up to 70% LTV with a product fee).  5 year fixes will reduce to 3.59% up to 70% LTV, and 3.79% up to 75% LTV (with product fees).  Cashback of up to £300 also remains available on a selection of residential purchase products.

Buy to let fixed rate loans have been reduced by up to 0.41%, and will be available from 3.99% for 2 years, 4.39% for 3 years or 4.59% for 5 years.  The buy to let range continues to offer cashback of £500 on completion.
More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.