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Virgin Money cuts rates on 65% LTV deals

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14/01/2015

Virgin Money has cut rates on a number of products in its 65% loan-to-value (LTV) intermediary exclusive range.

Its two and three-year fixed rates have been reduced to 1.75% and 2.25% respectively while its five-year fix has been cut to 2.65%. All products carry a fee of £995.

On its larger loan range, for applications with a minimum loan size of £150,000, its two and five-year fixed rates have been cut to 1.69% and 2.55% respectively and come with a fee of £1,495.

Peter Rogerson, Virgin Money’s mortgage director, said: “Virgin Money is committed to supporting the intermediary market and borrowers in a range of situations. Our latest changes make sure we continue to offer attractive options to our intermediary partners for their low LTV clients.”

Several lenders have launched new products already this year including Leeds Building Society and Accord Mortgages.

Amongst the new products on offer from Leeds is a 3.59% five-year fixed rate available up to 85% LTV. The deal has no fee and comes with a free standard valuation for properties worth up to £500,000.

Accord’s product launches are for landlords looking to expand their portfolios and those who want to remortgage.

Its three-year fixed rate highlights include a 3.09% fixed rate mortgage at 65% LTV with a £2,495 product fee and £500 cashback on completion. The five-year range rises to 3.94% at 75% LTV with a £2,495 product fee, free standard valuation and free legal service or £300 cashback in completion.

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