It also increases rates on select products
Virgin Money has announced changes to its range of residential and buy-to-let mortgages, including the introduction of new BTL product transfer deals.
The new product offerings include buy-to-let fixed rate deals, with fees of £3,995, available as follows: a 60% loan-to-value (LTV) two-year fixed rate at 4.84%, a 75% LTV two-year fixed rate at 5.14%, a 60% LTV five-year fixed rate at 4.61%, and a 75% LTV 5-year fixed rate at 4.81%.
BTL tracker deals with a £1,995 fee also feature a new 60% LTV two-year fixed rate at 5.79% and a 75% LTV two-year fixed rate at 6.21%.
Virgin Money’s latest product updates also include rate increases to selected products, with certain product transfer fixed rates hiked by up to 0.10%, starting at 4.38%. The 90% LTV Purchase Fix & Switch fee-saver rate has been increased by 0.05% to 5.52%, and the 90% LTV Professional Purchase Fixed Rate fee-saver has been slightly raised by 0.02% to 4.82%.
Similarly, selected remortgage fixed rates have been increased by 0.10%, starting from 4.79%, while five-year Greener new build fixed rates have been raised by 0.05%, beginning at 4.44%.
The Own New Rate Reducer 3% Incentive two-year fixed rates have also seen hikes of up to 0.10%, starting from 2.57%, while the Own New Rate Reducer 5% Incentive fee will go up by £500 to £995.
The lender’s current rates, reflecting the latest changes, can be accessed online through its updated product guide.
Virgin Money has also announced an extension to its Green Reward offer, which grants existing customers £250 cashback for undertaking eligible green home improvements. The initiative now allows more customers to register and claim, with the registration deadline extended from June 30 to December 31, and the claim deadline moved from December 31 to June 30, 2025.
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