Virgin cuts residential and buy-to-let rates by up to 0.31%

Virgin has announced a series of rate reductions across its residential and buy-to-let mortgage ranges.

Buy-to-let Fix and Switch products have been cut by 10bps.

The Fix and Switch range offers borrowers the security of a five-year fixed rate with the flexibility of being able to switch to another product with no early repayment charge after just two years.

A 60% LTV Fix and Switch product has reduced to 5.54% and a 75% LTV product to 5.64%, both with no product fees.

Elsewhere, high-LTV residential products have been cut by up to 9bps, with a 90% LTV five-year fix down to 5.00% and a 95% LTV five-year fix reducing to 5.35%, both with no fees.

In addition, 65% and 75% LTV residential product transfer fixed rates have decreased by up to 0.04%, with rates now starting from 4.41%.

In Virgin's buy-to-let range, fixed rates with a £995 fee have reduced by up to 0.31%, now starting from 4.78%, while fee-saver products are down by up to 0.24% and now start from 5.04%.