Virgin Money cuts residential and buy-to-let rates

Essex Home Finance
Virgin Money has made a series of rate reductions in its range of residential and buy-to-let mortgage products.
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The changes are effective from 27 November.

The rate reductions include the following:

Intermediary Exclusive:

  • Reduced 65% LTV 5 Year £1,495 fee by 0.03 percentage points to 1.39% (purchase and remortgage options)

Core Residential:

  • Reduced 65% LTV 5 Year £995 fee by 0.16 percentage points to 1.45%
  • Reduced 85% LTV 3 Year £995 fee by 0.15 percentage points to 3.09%
  • Reduced 85% LTV 5 Year £995 fee by 0.15 percentage points to 3.09%

Core Buy-to-let:

  • Reduced 60% LTV 2 Year £995 fee by 0.07 percentage points to 1.94%
  • Reduced 60% LTV 5 Year £1,995 fee by 0.11 percentage points to 1.87%
  • Reduced 60% LTV 5 Year £995 fee by 0.23 percentage points to 1.88%
  • Reduced 75% LTV 2 Year £995 fee by 0.06 percentage points to 1.98%

Core Buy-to-let Portfolio:

  • Reduced 60% LTV 2 Year £995 fee by 0.07 percentage points to 2.04%
  • Reduced 60% LTV 5 Year £1,995 fee by 0.11 percentage points to 1.97%
  • Reduced 60% LTV 5 Year £995 fee by 0.23 percentage points to 1.98%
  • Reduced 75% LTV 2 Year £995 fee by 0.06 percentage points to 2.08%

Help to Buy:

  • Reduced 55% LTV 5 Year £995 fee by 0.02 percentage points to 2.17%
  • Reduced 75% LTV 5 Year £995 fee by 0.02 percentage points to 2.17%

Shared Ownership:

  • Reduced 90% LTV 2 Year £995 fee by 0.25 percentage points to 3.39%

Original Article from Best Advice 26/11/2020

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Essex Home Finance

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Address : 8 Kingsdale Business Centre, Regina Road, Chelsmford, Essex, CM1 1PE

Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

Registered address: 1 High Street, Chelmsford, Essex, CM1 1BE.

Registered in England & Wales under number 10607263.

Your home may be repossessed if you do not keep up repayments on your mortgage.

We do not charge for Residential First Time Buyers, Residential Home Movers, Residential Remortgage, and all Product Transfers (Residential or Buy to Let).

There will be a fee for all Buy to Let Purchase and Buy to Let Remortgage cases. Typically our fee will be £149, payable on Offer. We will agree any fees with you before we proceed with your case.

There will be a fee for all Equity Release Mortgage cases. Typically our fee will be £695, payable on Offer. We will agree any fees with you before we proceed with your case.

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