Virgin Money Slashes Remortgage Rates and Launches Exclusive Deals!

Good news for homeowners looking to remortgage! Virgin Money has just announced a shake-up of its mortgage rates, including cuts of up to 0.31% and some tempting new deals.

New Remortgage Deals Exclusive to Brokers

For those looking for a new two-year fixed-rate remortgage, rates now start from a competitive 4.59% for those with a 60% loan-to-value (LTV). This means if you have a £150,000 mortgage on a £250,000 property, you could secure this rate.

The rate rises slightly to 4.75% for those with a 70% LTV and 5.17% for 80% LTV, all with a £995 fee. If you prefer to avoid the fee, you can secure a rate of 4.95% (60% LTV) or 5.00% (70% LTV).

If you’d prefer the security of a five-year fix, rates start from 4.25% (60% LTV), rising to 4.39% (70% LTV) and 4.75% (80% LTV). You can even bag a fee-free five-year fix from 4.35% (60% LTV) or 4.56% (70% LTV).

And there’s more good news! These exclusive deals, available through mortgage brokers, come with free valuations and legal fees.

Existing Customers Benefit Too

Existing Virgin Money customers haven’t been forgotten! The lender has also reduced rates on its existing two and five-year fixed-rate remortgages (80% LTV) by up to 0.14%.

Other remortgage products have also seen reductions:

Fix and Switch: Rates reduced by 0.10%
Fixed rates with a £995 fee: Reduced by up to 0.23%
Fee-saver products: Reduced by up to 0.20%

The biggest saving is on 75% LTV mortgages over £1 million with a £1,995 fee. These rates have been slashed by up to 0.31% and now start from 4.56%.

Savings For Homebuyers and Landlords

First-time buyers and those moving home haven’t been left out. Virgin Money has also reduced rates on some of its purchase mortgages by up to 0.30%.

Buy-to-let landlords will also welcome the news that rates on these mortgages have been cut by up to 0.10% across a range of products.

What This Means for You

With mortgage rates constantly changing, it’s more important than ever to shop around for the best deal. These rate cuts from Virgin Money could mean significant savings for homeowners, whether you’re looking to remortgage, buy your first home, or expand your property portfolio.