Virgin mortgage rates are lowered.
Virgin announce mortgage rates are to be cut and an additional 60% loan to value mortgage deal is to be launched.
Virgin mortgage rates have been reduced for both its residential and buy to let mortgage range. Rates have been priced more competitively and a 2 year fixed rate mortgage has been launched.
For mortgage applicants with a 40% deposit a 2 year fixed rate of 2.99% is offered. This is not as competitive as the 5 year fixed rate deals offer by Santander, NatWest and HSBC who all have a 5 year fixed rate deal at 2.99% and below for the same deposit level.
Virgin however are offering mortgage-holders with other lenders incentives to take on one of their mortgages in the form of free legal fees and a free valuation.
Smaller deposit holders are also to benefit from competitive Virgin mortgage deals that are on offer for up to 90% loan to value. A 2 year fixed rate for 70% loan to value is now on offer at a rate of 3.19%, the lender also advises that 80% and 90% loan to value levels rates have been cut by 0.20%.
Other rate reductions have been announced for those with a 30% deposit. A 3 year fixed rate is on offer for 70% loan to value at 3.49% and for those with a 30% deposit who are looking for a 5 year fix, a rate of 3.59% is offered. For a slightly smaller 25% deposit Virgin offer a rate of 3.79%.
Cash-back of £300 is also available on certain Virgin mortgages and some buy to let rates within its fixed mortgage range have been cut by up to 0.40%
For a comparison of all lenders mortgage offers contact Deal Direct.
