Tag: Virgin Money
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Virgin Money Launches New Mortgage Scheme
Virgin Money has just unveiled a new mortgage product in partnership with Own New, designed to make the dream of owning a new build home more achievable for many. Dubbed the “Rate Reducer,” this new offering is set to revolutionise how prospective homeowners can afford their future homes. Making New Homes More Affordable As of…
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Mortgage Market Squeeze – HSBC Stands Alone with Sub-4% Deals
HSBC has become the solitary source for borrowers seeking rates under 4%, following Santander’s recent adjustments to its loan pricing. This development underscores a tightening market, where affordable borrowing options are becoming increasingly scarce, highlighting the need for potential homeowners and those looking to remortgage to act swiftly. Santander’s Rate Hike Santander has adjusted its…
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Mortgage Rates On The Rise
Major banks and lenders like Halifax, NatWest, Virgin Money, and TSB have announced hikes in their fixed-rate mortgage deals. This move reflects the broader market’s response to increasing swap rates—the interest rates at which banks lend to each other—amid expectations that interest rates will remain elevated for an extended period. Understanding The Shift The Bank…
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Buy To Let Mortgages Roundup – 6th February
The NRLA published a roundup of latest news and products from the BTL mortgage market. Here’s our summary – A Wave of Cuts The Mortgage Works Leads the Charge The Mortgage Works has made headlines not once, but twice in a single week, announcing rate cuts up to 0.15 percent for new customers. With rates…
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Breakthrough in Mortgage Deals – A Flexible 5-Year Plan With 2-Year Exit Option
Virgin Money has launched an innovative five-year fixed mortgage deal. What’s unique about this offer? It allows customers the freedom to exit the deal after just two years without any fees. This marks a significant shift from traditional mortgage loans, which typically bind borrowers to fixed costs for a set period and penalise them for…
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Virgin Money Cutting Interest Rates
Virgin Money’s residential range is getting the biggest cuts in five-year fixed rates. What does this mean for you? Well, if you’re considering a long-term fixed mortgage, rates now start at a more attractive 4.19%, though this comes with a £995 fee. If you prefer to avoid fees, you can still enjoy a reduced rate,…
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More Lenders Slash Rates in Fierce Competition
Yorkshire Building Society (YBS) is reducing selected fixed rate mortgage deals by up to 0.65 percentage points. A particularly attractive offer from YBS is a five-year fixed rate mortgage for both purchase and remortgage, now standing at 3.99%. This deal is tailored for borrowers who can provide 25% equity or a cash deposit for purchases.…
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Home Loan Price War – Now NatWest Cuts Rates
NatWest has reduced the rates of its fixed-rate mortgage deals. This decision comes amidst a growing price war among lenders, aiming to attract more customers with competitive pricing. NatWest’s rate cuts, effective from today, apply to various mortgage products, including those for residential home purchases and remortgages. NatWest’s new strategy involves a reduction of up…
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UK Mortgage Rates – A Continuing Downward Trend?
Recent weeks have seen mortgage rates start to ease, driven by a combination of positive economic data, increased house sales, and the growing belief that interest rates have hit their peak. This change is especially significant for the average two-year fixed mortgage, which has dropped from a 15-year high of 6.85% in August 2023 to…
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Mortgage Rates Could Drop Below 4% in Lending Price War
Homeowners across the UK have a reason to smile as financial experts predict a significant drop in fixed-rate loans, potentially dipping below 4% in the coming weeks. This comes as a welcome relief amid a competitive mortgage price war. Leading the charge, TSB has already announced a considerable reduction in its home loan rates by…