The new intermediary exclusive is a two-year fixed rate launched at 2.24% available up to 85% LTV (£995 product fee, £1,000 cashback for purchases).
Virgin's two-year tracker rate at 80% LTV has been reduced by 0.30% to 1.69% (£995 product fee).
The three-year fixed rate range now starts from 2.24% at 75% LTV and 2.28% at 80% LTV.
Five-year fixes have been reduced by up to 0.16% and now start at 2.37% at 65% LTV, 2.54% at 70% LTV and 2.74% at 80% LTV.
Help to Buy Equity Loan changes include:
- Two-year fixed rate at 75% LTV reduced by 0.40% to 2.59% (no product fee, £500 cashback)
- Five-year fixed rate at 75% LTV reduced by 0.36% to 3.03% (no product fee, £500 cashback)
- Two-year fixed rate Stamp Duty Buster at 75% LTV reduced by 0.15% to 2.84% (no product fee, £2,500 cashback)
Peter Rogerson, Virgin Money’s Commercial Director for Mortgages, said:
“Our latest reductions to mortgage rates benefit a range of borrowers, including those buying a home through the Government’s Help to Buy Equity Loan Scheme. We expect our new two-year fixed rate, which is available exclusively through our intermediary partners, to be particularly popular, and we are continuing to waive the usual £99 application fee for a limited period, providing a further benefit to customers.”
