Virgin Money cuts mortgage rates for a second time.
Virgin mortgage rates were reduced by 0.2% at the end of May and now the lender has announced a second round of cuts.
Previously Virgin advised its 2 year fixed rates would be offered from 3.55% and 5 year fixed rates from 4.09%, and now in an attempt attract new business its mortgage rates have been cut further.
The new range features residential mortgage products for both new property purchase and remortgage customers.
A 2 year fixed rate is now on offer at 3.45% for both new purchase and remortgage, a 3 year fixed rate is on offer at 3.69% and a 5 year fixed rate is on offer at 3.99%.
The new rates could prove popular with home-owners sitting on lenders increased SVRs who are looking to switch deals.
Virgin Money also advise that it plans to continue to offer a cashback incentives on its purchase products. Remortgaging mortgage-holders are also to be offered incentives in the form of a free standard legal service and a free valuation.
The incentives offered on the buy to let mortgage range will also continue, £500 cashback will be given on completion to cover some of the costs incurred through managing a property portfolio.
For an up to date comparison of the most competitive mortgage rates on offer in the UK, contact independent 'whole of market' broker Deal Direct. Our skilled advisers will source you a great new deal.
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