Virgin launches new Fix and Switch, Retrofit Boost and green mortgage products

Virgin Money has announced the launch of new mortgage products across its residential and buy-to-let purchase and remortgage ranges.

New Fix and Switch remortgage rates start from 4.89% up to 75% LTV and 5.24% up to 85% LTV, both with free valuation and free legals.

Fix and Switch 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.

Virgin has also launched a range of green purchase products with free valuation and £200 cashback. Two-year fixed rates start from 4.88% at 75% LTV, 5.01% at 85% LTV and 5.39% at 90% LTV. Five-year fixes are available from 4.59% at 75% LTV, 4.77% at 85% LTV and 4.92% at 90% LTV.

The lender is also introducing new Retrofit Boost residential and buy-to-let products.

The Retrofit Boost range, which launched in July this year, is designed to help borrowers improve their property’s energy efficiency. The mortgage offers customers a cashback amount, ranging from £3,000 to £15,000, to make their home more energy efficient.

New residential five-year fixed rates with £5,000 cashback start from 4.97% at 75% LTV and 5.04% at 85% LTV. With 10,000 cashback, five-year fixes are available from 5.49% at 75% LTV and 5.56% at 85% LTV. All products come with a £995 fee.

Virgin has also launched a new five-year fixed rate buy-to-let Retrofit Boost product, available at 5.97% up to 75% LTV with a £1,995 fee.

In addition, Virgin has reduced a number of existing mortgage rates by up to 0.09%.

Selected 80% LTV Exclusive fixed rates have reduced by up to 0.07% and selected 90% LTV fixed rates are down by up to 0.06%, with product transfer rates at 75% LTV reduced by up to 0.09%.

Other products in Virgin's range have increased by up to 0.10%, including shared ownership and Own New two-year fixes.

As part of the changes, green fixed rates with a £995 fee now come with a free valuation and £200 cashback.