Virgin Money has introduced new product transfer and purchase products while reducing select rates by up to 0.2%.
Within its purchase range, Virgin Money has added a two-year fixed rate at 80% loan to value (LTV) with an £895 fee and £300 cashback at 4.83%, along with a two-year fixed rate fee-saver version with £300 cashback at 5.08%.
The lender has cut two- and five-year fixed rates at 65% and 75% LTV by up to 0.19%, with rates starting from 4.2%.
Selected Own New fixed rates have fallen by up to 0.19%, with rates beginning from 0.69%.
Virgin Money’s large loan fixed rates with a £1,995 fee for loans over £1m have been reduced by up to 0.19%, with rates starting from 4.3%.
The firm said that 65%, 75% and 85% LTV fixed rate fee-savers are now available with £300 cashback.
Within its remortgage range, selected fixed rates with a £995 fee have been reduced by up to 0.09%, with rates priced from 4.23%.
Selected remortgage fixed rate fee-savers offered by Virgin Money have been lowered by up to 0.05%, with rates starting from 4.34%.
For large loan deals for £1m+, fixed rates with a £1,995 fee have been cut by up to 0.09%, with rates beginning from 4.53%.
In Virgin Money’s buy-to-let (BTL) range, the 60% LTV Fix and Switch fixed rate with a £1,495 fee has been reduced by 0.05% to 4.89%.
Selected BTL fixed rates with a 3% fee have fallen by up to 0.15%, with rates starting from 3.83%.
Selected BTL fixed rates with a 1% fee have fallen by up to 0.2%, with rates beginning from 4.37%.
Five-year fixed BTL rates with a £2,195 fee have been reduced by up to 0.14%, with rates starting from 4.34%.
Selected BTL fixed rates with a £995 fee have decreased by up to 0.12%, with rates priced from 4.7%.
BTL fixed rate fee-savers have been reduced by up to 0.07%, with rates starting from 4.84%.
On the product transfer side, Virgin Money has added a two-year fixed rate at 65% LTV with a £1,995 fee priced at 4.5%, and its 75% LTV version is 4.64%.
Selected product transfer fixed rates have been reduced by up to 0.09%, with rates starting from 4.23%, and selected BTL fixed rates have been lowered by up to 0.13%, with rates beginning from 4.39%.
TML cuts BTL rates
The Mortgage Lender (TML) has cut rates across its BTL range and reintroduced a BTL fee-saver deal.
The lender has lowered rates by up to 0.1% across its five-year fixed rate at 75% LTV and portfolio multi-loan deal.
Its five-year fixed rate at 75% LTV with a 5% fee will go from 5.06% to 4.96%, while its portfolio multi-loan five-year deal with a 2% fee has gone from 5.72% to 5.62%.
Houses in multiple occupation (HMOs) and multi-unit block (MUB) five-year fixed rates with a 2% fee have decreased from 5.91% to 5.81%.
The BTL fee-saver deals for purchase and remortgage start from 6.06%. It has a free standard valuation and £250 cashback.
Steve Griffiths, chief commercial officer at TML, said: “We’re pleased to be able to offer our brokers and their clients a further rate reduction. Affordability across the market has been improving for landlords with rates reducing and rents increasing, and we’re thrilled to be able to support professional landlords secure affordable rates that will enable them to both remortgage and make new purchases.
“At TML, we are committed to supporting our brokers and their clients, providing the best possible rates so they can get closer to their property goals.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
