Virgin cuts residential rates by up to 0.26%

Virgin Money has announced a series of rate reductions across its residential purchase, remortgage and product transfer ranges.

Available from today, exclusive purchase rates have reduced by up to 0.14%. Two-year fixed rates at 80% LTV now start from 3.86% with an £895 fee or 4.05% fee-free, with a 90% LTV two-year fix down to 4.23% with no fee.

Five-year fixed rates at 75% LTV now start from 3.89% with an £895 fee and 3.99% fee-free, while 80% LTV rates have reduced to 3.99% and 4.07% respectively. A fee-free 90% LTV rate has also reduced to 4.31%.

In Virgin's standard purchase range, rates have reduced by up to 0.26%. Two-year fixed rates have reduced by up to 17bps, now starting from 3.91% with a fee and 4.11% fee-free.

Five-year fixed rates are down by 0.26%, starting from 4.00%, with shared ownership rates down by up to 14bps and starting from 4.03%.

Remortgage rates have reduced by up to 0.09%, with two-year fixed rates now starting from 3.84% and five-year fixes from 3.92%.

Product transfer rates are down by up to 0.10%, with two-year fixed rates starting from 3.55%, three-year fixes from 3.80%, and five-year rates from 3.66%.

As part of the latest changes, Virgin is withdrawing a number of products, including its entire Retrofit Boost and Own New ranges.