+ +
You are here: Home - First Time Buyers - News -

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.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Sorry. No data so far.

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators

Read previous post:
Double-digit drop in first-time buyer sales in 2020

First-time buyer deposits rose by 23% in 2020 to an average of £57,278

+ +