Virgin Money launches new 90% LTV products

Essex Home Finance
Virgin Money has announced a series of reductions to its residential mortgage rates, alongside new intermediary exclusives.
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Virgin Money has announced a series of reductions to its residential mortgage rates, alongside new intermediary exclusives.

The new exclusive products include a five-year fixed rate at 1.79% up to 75% LTV and a two-year fix at 2.79% up to 85% LTV, both available for purchase only. Virgin has also launched a broker-exclusive 90% LTV two-year fixed rate at 3.29% for first-time buyers only.

All three products come with a £995 fee, £1,000 cashback and are available for a limited two-week period.

Virgin has also reduced rates by up to 0.15% across its core residential range. Highlights include a five-year fixed rate at 75% LTV which has been cut by 15bps to 1.73% and a two-year fix at 85% LTV which has been reduced by 0.10% to 2.69%. 85% LTV three and five-year fixed rates have seen reductions of 0.08% to 2.86%.

Additionally, the lender has added two former exclusive 90% LTV first-time buyer products into its core range – a two-year fixed rate at 3.29% and a two-year fee-saver product at 3.39%.

Across Virgin’s shared ownership range, 90% LTV five-year fixed rates have seen reductions of up to 40bps and are now available at 3.86% with a £995 fee or 4.09% fee-free.

Original Article from Financial Reporter 03/02/2021

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