Virgin Money has launched a number of mortgage products to its range exclusively available through intermediaries.
Virgin Money’s changes include purchase options with £300 cashback, such as a five-year fixed rate at 75% loan to value (LTV) with an £895 fee, priced at 4.56%.
The equivalent option at 80% LTV has a rate of 4.64%.
The lender has also released fee-free options, both fixed for five years, at 75% and 80% LTV priced at 4.66% and 4.8% respectively.
Virgin Money has added remortgage products with a free valuation and legals.
There is a two-year fix at 80% LTV with a £895 fee and a rate of 5.39%, and the five-year fixed option has a rate of 4.84%.
For options without a fee at the same tier, the two-year fix has a rate of 5.84% and the five-year fix is priced at 5.12%.
Rate changes
The lender has also adjusted select rates, such as Fix and Switch purchase deals, which have gone up by 0.1% and start from 5.34%.
Its two-year fixed Own New deals at 90% LTV have been increased by 0.05% and start from 2.78%.
At 90% LTV, Virgin Money has increased two-year fixed offerings with a £995 fee by 0.05% to start from 5.44%, and fee-free two-year fixes at 95% LTV have seen rate increases of 0.1% and begin at 5.94%.
BTL deals with a 3% fee have fallen in rate by 0.02% and start from 4.03%. Select five-year fixes for BTL borrowers with a 1% fee have also been lowered by 0.02% and now start from 4.67%.
Virgin Money has also withdrawn an exclusive purchase deal with no fee at 90% LTV. This was fixed for five years and had a rate of 5%.
Virgin Money’s latest financial results, covering the Q2 period, showed the value of its mortgage book totalled £56.6bn.
Last week, the Competition and Markets Authority (CMA) revealed it launched a probe into the possible merger between Virgin Money and Nationwide, to determine whether this would reduce competition for consumers.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS