It also reduced rates of selected BTL and residential fixes
Virgin Money has launched three new buy-to-let (BTL) products and reduced rates across its BTL and residential ranges, effective March 21.
The lender has introduced two buy-to-let purchase and remortgage exclusives at 65% loan-to-value (LTV) with a £300 cashback and free valuation. The two-year fix with a £995 fee has a rate of 4.90%, while the five-year version has a rate of 4.65%. There is also a fee-savers buy-to-let product at 75% LTV starting from 4.88%.
Rates of 60% LTV buy-to-let products with a £995 fee were reduced by 0.15% to 4.82% for two-year fixes and by 0.06% to 4.60% for five-year fixes. Selected portfolio landlord 60% LTV fixes were also slashed by up to 0.15%.
On its residential core and exclusive range, rates of 95% LTV five-year fixed fee-saver were cut by 0.02% to 5.02%. Other selected fixed rates were reduced by up to 0.10%.
For product transfer, selected fixed rates were reduced by up to 0.41%.
Meanwhile, Virgin Money increased the rates of selected 85% LTV residential fixed rates by up to 0.05% a day earlier.
The full details of all mortgage products offered by Virgin Money, reflecting the latest product changes, can be found on its mortgage update.
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