Virgin cuts purchase and remortgage rates by up to 0.33%

Virgin Money has announced widespread rate reductions across its residential purchase and remortgage, buy-to-let, and product transfer ranges.

In its exclusive purchase range, 75% LTV rates have reduced by up to 0.21% with two-year fixes starting from 3.83% and five-year rates from 3.99%.

80% LTV two and five-year fixed rates now start from 3.93% and 4.09% respectively, while an 85% LTV five-year fixed rate with an £895 fee is down by 12bps to 4.17%.

In Virgin's 90% LTV fee-saver rates, two-year fixes have reduced to 4.40% and five-year fixes to 4.42%.

In addition, selected Own New fixed rates have reduced by up to 0.33% and Retrofit Boost five-year fixed rates with £995 fee have decreased by up to 0.26%.

In Virgin's standard residential purchase range, two-year fixed rates have reduced by up to 0.29%, now starting from 3.96% with a £999 fee and 4.21% fee-free. Five-year fixes decreased by up to 0.20% and start from 4.07% with a £999 fee and 4.26% fee-free.

10-year fixed rate fee-savers are down by 0.10%, starting from 4.62%, while shared ownership rates have been cut by up to 0.30%, starting from 4.03%.

For residential remortgage, two-year fixed rates have reduced by up to 0.25% and are available from 3.84% with a £999 fee and 4.18% fee-free. Five-year rates now start from 3.92% with a £999 fee and 4.09% with no fee.

10-year fixed rates with no fee have reduced by 0.18% to 4.54% and Retrofit Boost five-year fixes have decreased by up to 0.26%.

In its buy-to-let range, selected two and five-year fixed rates have reduced by between 10-15bps, now starting from 3.97%.

For product transfers, rates have reduced by up to 0.25% with two-year fixed rates now starting from 3.69%, three-year fixes from 3.92%, five-year fixes from 3.76%, and 10-year fixes from 4.39%.

Buy-to-let product transfer rates have also reduced by up to 0.10%, starting from 3.72%.