Virgin increases residential and buy-to-let rates by up to 0.39%

The lender has also expanded its Fix and Switch range.

Related topics:  Mortgages
Rozi Jones | Editor, Barcadia Media Limited
16th February 2024
Virgin Money

Virgin has announced rate changes across its residential and buy-to-let mortgage ranges, as well as the launch of new Fix and Switch products.

The Fix and Switch range launched last month and offers borrowers the security of a five-year fixed rate with the flexibility of being able to switch to another product with no early repayment charge after just two years.

Virgin has today launched two new exclusive Fix and Switch products, including a 90% LTV five-year fixed rate purchase product at 4.98% with £250 cashback, and a five-year remortgage product at 70% LTV, available at 4.69% with a free valuation and free legals. Both products come with a £1,495 fee.

The products complement a 95% LTV purchase product and 70% LTV remortgage product launched last week.

Virgin has also announced rate increases of up to 0.39% across its residential and buy-to-let ranges.

The largest increases are to £1m+ purchase and remortgage fixed rates, which have increased by up to 0.39%, now starting from 4.76%.

Selected 85%-90% LTV purchase exclusive fixed rates have increased by up to 0.10%, with rates starting from 4.50%, while 60% and 70% LTV remortgage exclusives are increasing by up to 5bps, now starting from 4.29%.

Exclusive buy-to-let rates have risen by 0.10% and now start from 3.97%.

Selected residential product transfer rates have increased by up to 0.15% and buy-to-let product transfers have risen by up to 0.25%.

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