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Virgin Money cuts rates on its 90 per cent mortgages

Written by: Owain Thomas
The market for 90 per cent mortgages is becoming more competitive which is good news for first-time buyers
Virgin Money cuts rates on its 90 per cent mortgages

Virgin Money is cutting rates on its mortgages for those with a small deposit by up to 0.2 per cent.

The lender has made the cuts to selected products at 85 per cent and 90 per cent of the property’s value.

The largest reductions have been made to a pair of 90 per cent first-time buyer deals in its mortgage broker exclusive range.

The two-year fixes with £995 fee and no fee have been reduced by 0.15 per cent and 0.2 per cent respectively to 3.29 per cent and 3.49 per cent each.

A core five-year fix for first-timers at 90 per cent of the property’s value with a £995 fee has also been trimmed by 0.03 per cent to 3.46 per cent.

Meanwhile, four of its core residential range at 85 per cent have been reduced.

The two-year fixes with £995 fee and zero fee are down by 0.04 per cent and 0.07 per cent to 2.79 per cent and 3.06 per cent respectively.

And the three-year and five-year fee free deals are both reduced by 0.13 per cent to 3.16 per cent.

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