Virgin Money cuts residential mortgage rates

Essex Home Finance
Virgin Money has made a series of rate cuts in its range of residential mortgage products.
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Virgin Money has made a series of rate cuts in its range of residential mortgage products.

The changes, which are effective from 23 February, are as follows:

New Business:

Exclusive

  • Reduce £1,000 cashback 75% LTV 5 Year £995 fee by 0.05 percentage points to 1.74% (Purchase Only)
  • Reduce £1,000 cashback 85% LTV 2 Year £995 fee by 0.10 percentage points to 2.69% (Purchase Only)

Core Residential

  • Reduce 65% LTV 2 Year fee-saver by 0.14 percentage points to 2.06%
  • Reduce 65% LTV 5 Year fee-saver by 0.31 percentage points to 1.68%
  • Reduce 65% LTV 5 Year £995 fee by 0.04 percentage points to 1.35%
  • Reduce 75% LTV 5 Year £995 fee by 0.05 percentage points to 1.68%
  • Reduce 75% LTV 2 Year fee-saver by 0.14 percentage points to 2.09%
  • Reduce 85% LTV 2 Year £995 fee by 0.05 percentage points to 2.64%
  • Reduce 85% LTV 2 Year fee-saver by 0.03 percentage points to 2.98%
  • Reduce 85% LTV 3 Year fee-saver by 0.03 percentage points to 3.13%
  • Reduce 85% LTV 5 Year fee-saver by 0.03 percentage points to 3.13%
  • Reduce FTB 90% LTV 2 Year £995 fee by 0.05 percentage points to 3.24% (£500 CB)
  • Reduce FTB 90% LTV 5 Year £995 fee by 0.05 percentage points to 3.41% (£500 CB)
  • Reduce FTB 90% LTV 5 Year fee-saver  by 0.07 percentage points to 3.62% (£500 CB)

Shared Ownership

  • Reduce 85% LTV 5 Year fee-saver by 0.02 percentage points to 3.77%
  • Reduce 90% LTV 2 Year fee-saver by 0.09 percentage points to 3.64%
  • Reduce 90% LTV 5 Year £995 fee by 0.27 percentage points to 3.59%
  • Reduce 90% LTV 5 Year fee-saver by 0.31 percentage points to 3.78%

Product Transfer:

Core Residential

  • Reduce 65% LTV 5 Year fee-saver by 0.02 percentage points to 1.68%
  • Reduce 65% LTV 5 Year £995 fee by 0.04 percentage points% to 1.35%
  • Reduce 75% LTV 5 Year £995 fee by 0.01 percentage points to 1.68%

Shared Ownership

  • Reduce 90% LTV 2 Year fee-saver by 0.09 percentage points to 3.64%
  • Reduce 90% LTV 5 Year £995 fee by 0.27 percentage points to 3.59%
  • Reduce 90% LTV 5 Year fee-saver by 0.31 percentage points to 3.78%

Original Article from Best Advice 22/02/2021

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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.

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