Virgin Money has lowered charges throughout product switch, buy-to-let (BTL) and unique buy merchandise, efficient tomorrow (3 July).
Selected product switch 65% loan-to-value (LTV) two-, three- and five-year mounted charges have been decreased by up to 0.11%, ranging from 3.86%.
Product switch BTL mounted charges have even be cut by 0.08% to begin from 3.77%.
In addition, the unique buy 75% LTV five-year mounted price with £895 payment has been decreased by up to 0.05%, to 4.09%, whereas 80% LTV two- and five-year mounted charges have been trimmed by up to 0.05%, ranging from 4.10%.
The 85% LTV five-year mounted price with £895 payment has gone down by 0.05%, to 4.19%.
Rates within the lender’s BTL vary have additionally been lowered.
These embrace chosen two- and five-year mounted charges with 3% payment which have been decreased by up to 0.04%, ranging from 2.98% and chosen two- and five-year mounted charges with 1% payment which have been cut by 0.08%, ranging from 3.93%.
The two- and five-year mounted charges with £2,195 payment have additionally gone down by up to 0.08%, ranging from 3.92%.
Elsewhere, The Mortgage Works (TMW) has decreased chosen BTL charges for brand new and current clients by up to 0.35%.
The new charges will now begin from 2.79%.
Rate reductions for brand new enterprise embrace the BTL two-year mounted price (remortgage solely) with a 3% payment, obtainable up to 65% LTV, which has been lowered by 0.10% to 2.99%.
It has additionally cut the value of its BTL five-year mounted price (remortgage solely) with a 3% payment, obtainable up to 75% LTV, by 0.07% to 3,82%.
Both of those merchandise include free valuation and free legals.
The price of the restricted firm BTL five-year mounted price (buy, remortgage and additional advance) with a 3% payment, obtainable up to 75% LTV has gone down by 0.07% to 4.67%. This comes with a free valuation.
The HMO BTL two-year mounted price (buy, remortgage and additional advance) with a £1,495 payment, obtainable up to 75% LTV has been decreased by 0.35% to 5.49%.
Rate reductions on switcher merchandise embrace the BTL two-year mounted price with a 3% payment, obtainable up to 65% LTV, which is now 2.99% after being cut by 0.15%.
The BTL two-year mounted price with £1,495 payment, obtainable up to 65% LTV has gone down by 0.06% to 4.12% and the restricted firm BTL two-year mounted price with a 3% payment obtainable up to 75% LTV has been lowered to 4.14% after being decreased by 0.30%.
The Mortgage Works senior supervisor Joe Avarne says: “We are happy to announce additional price cuts to display our ongoing dedication to brokers and landlords. These latest reductions make us some of the aggressive suppliers of buy-to-let mortgages within the sector.”
