Virgin Money has announced product changes that will be rolled out tomorrow (October 28).
The lender has added a two-year ERC free track rate savings of £999, with rates starting from 4.29%, and a two-year ERC free track rate savings, with rates starting from 4.99%.
It has also added remortgage products, including a two-year fixed-rate product that costs £999 and has rates starting from 3.99%, while the five-year equivalent product has rates from 4.04%.
Additionally, Virgin has introduced new product transfer rates. There will be a new two-year fixed rate, costing £1,999, with rates starting from 3.79%, and a two-year fixed rate, costing £999, with rates starting from 3.89%.
There will also be a three-year fixed rate, costing £999, with interest rates starting from 3.99%; a five-year fixed rate, costing £1,999, with interest rates starting from 3.86%; and a five-year fixed rate, costing £999, with interest rates starting from 3.94%.
Within the same range, Virgin has also chosen two-, three- and five-year fixed rate savers. Rates can rise by up to 0.20% or fall by up to 0.21%.
Virgin will also withdraw purchases, remortgages, BTL and product transfers from 8pm today.
Elsewhere, principality intermediaries have cut rates.
The lender’s residential two-year fixed loan-to-value (LTV) of 75% (without product fees) has been reduced by 0.12%. It also slashed the two-year fixed 90% LTV product by up to 0.10%.
Residential products with cash back are also down, with two-year fixed rates at 75% LTV down 0.10% and five-year fixed rates at 75% LTV down 0.08%.
The Principality has also reduced the new two-year fixed Help to Buy (Wales) product of 75% LTV by 0.15%.
Additionally, the lender’s five-year fixed product (with an LTV of 60% and fees of £1,395) fell by 0.15%.
