Virgin Money has announced that it will introduce a series of pricing changes across its buy-to-let mortgage range, tomorrow (Feb 17), with the largest reductions applied to selected two-year fixed-rate products and mixed movements across five-year fixes.
Standard buy-to-let two-year fixed rates with a £995 fee fall by up to 0.19%, with pricing now starting from 4.12%. At higher loan-to-value tiers, 65% and 75% LTV five-year fixed rates with the same fee reduce by 0.06%, starting from 4.15%.
Fee-saver options also move lower:
The 75% LTV two-year fixed fee-saver drops by 0.20%, to 4.40%.
The 75% LTV five-year fixed fee-saver falls by 0.14%, to 4.35%.
However, pricing rises at the upper end of the LTV spectrum. The 80% LTV five-year fixed rate with a £995 fee increases by 0.08%, to 4.92%.
Exclusive buy-to-let products show a more varied pattern. Two-year fixed rates with a 1% fee reduce by up to 0.05%, starting from 3.89%, while those with a 3% fee fall by up to 0.08%, to 2.78%.
By contrast, selected five-year exclusive buy-to-let products increase slightly:
Five-year fixed rates with a 1% fee rise by up to 0.05%, starting from 4.09%.
Five-year fixed rates with a 3% fee increase by up to 0.04%, to 3.63%.
Five-year fixed rates with a £2,195 fee rise by up to 0.07%, starting from 4.07%.
Buy-to-let product transfer rates also change. Selected two-year fixed rates increase by up to 0.04%, while five-year fixed rates either rise by up to 0.05% or fall by as much as 0.15%, depending on product type and LTV band.
Alongside buy-to-let changes, Virgin Money has adjusted pricing across its residential ranges.
For remortgage customers, selected two-year fixed rates with a £999 fee fall by up to 0.16%, starting from 3.84%, while fee-saver versions drop by up to 0.17%, from 4.14%. Five-year fixed remortgage rates with a £999 fee reduce by up to 0.10%, to 3.94%, and fee-saver equivalents decrease by up to 0.06%, starting from 4.10%.
Purchase rates also move lower across most fixed products. Two-year fixed rates with a £999 fee reduce by up to 0.08%, with pricing from 3.80%, while fee-saver options fall by up to 0.07%, to 4.01%. Five-year fixed rates with a £999 fee drop by up to 0.06%, starting from 3.96%, and fee-saver versions fall by up to 0.13%, to 4.04%. Shared Ownership fixed rates decrease by up to 0.13%, with pricing from 3.82%.
Product transfer customers see further reductions. Selected two-year fixed rates fall by up to 0.11%, starting from 3.58%, while selected three-year fixed rates drop by up to 0.11%, to 3.80%. Five-year fixed product transfer rates reduce by up to 0.06%, beginning at 3.71%.
