Virgin launches sub-5% mortgage rate at 95% LTV

Virgin Money has announced rate reductions of up to 0.15% across its residential and buy-to-let mortgage ranges.

As a result, 95% LTV rates have reduced by up to 6bps, with a five-year fixed rate now available at 4.99% and a two-year fix down to 5.58%, both fee-free.

The reductions bring Virgin's 95% LTV offering in line with Nationwide, which last week became the first major lender to offer a sub-5% rate on its standard range to those with a 5% deposit. 

Elsewhere in Virgin's range, selected two and five-year fixed rate remortgage products have reduced by up to 0.15%, now starting from 3.96%. 

In addition, selected product transfer rates have decreased by up to 0.15%, starting from 3.79%. 

In the lender's exclusive buy-to-let range, two and five-year fixed rates with a 1% fee are down by up to 0.14%, available from 4.07%, while selected rates with a 3% fee have reduced by up to 0.07%, starting from 3.73%.