Virgin and Clydesdale cut residential rates by up to 0.26%

Virgin Money and Clydesdale Bank have both announced rate reductions across their residential mortgage ranges.

In Virgin's purchase range rates have reduced by up to 0.10% 75% LTV exclusive five-year fixed rates now start from 4.07%.

Elsewhere in its broker exclusive range, 80% LTV two and five-year fixed rates now start from 4.05% and an 85% LTV five-year fix with an £895 fee has reduced to 4.16%.

In addition, a 95% LTV five-year fix with no fee is down by 10bps to 4.79%.

In Virgin's remortgage range, two and five-year fixed rates are down by up to 0.19% and now start from 4.09%.

Clydesdale, part of the Virgin Money Group, has reduced core residential, including product transfer, rates by up to 0.20%.

In its residential exclusive range, 90-95% LTV two-year rates have reduced by up to 0.14% and 80% LTV two-year remortgage rates are down by up to 0.08%.

Product transfer and large loan exclusive rates have also seen reductions of up to 0.18%.

In Clydesdale's professional mortgage range, 80-95% LTV two and five-year fixed rates have decreased by up to 0.26%, while two-year 80% LTV discount offset rates are down by 0.25%.

As part of the changes, end dates will move to 31st October of the relevant year and the Bank is launching purchase and remortgage fee offer exclusives at 75% and 80% LTV, with rates starting from 4.58%. In addition, its five-year fee offer buy-to-let rates will be made available for new business, with rates from from 4.99%.