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Virgin cuts help to buy equity loan and BTL rates

Alex Lynn | 11:35 Wednesday 17th May 2017

Virgin Money has announced a raft of improvements to selected BTL and Help to Buy equity loan deals.

New intermediary exclusive fixed rates are now available at 50% LTV with a £1,995 fee, including:

• Two-year fixed rate available at 1.24% (only available to remortgage customers, min £300k loan)
• Three-year fixed rate available at 1.49% (only available to remortgage customers, min £300k loan)
• Five-year fixed rate available at 1.69% (only available to remortgage customers, min £300k loan).

Virgin reduced its Help to Buy equity loan stamp duty buster rates by up to 0.3%, including:

• Two-year fixed rate available at 75% LTV has been reduced to 2.6% with a £995 fee and £2,000 cashback for purchase customers.

Meanwhile, selected BTL two- and five-year fixed and tracker rates were reduced by up to 0.28%, with changes including:

• Two-year fixed rate available at 60% LTV has been reduced to 1.74% with a £995 fee
• Five-year fixed rate available at 75% LTV has been reduced to 3.14% with a £995 fee
• Two-year tracker rate available at 75% LTV has been reduced to 2.19% with a £995 fee.

Virgin also launched new exclusive mortgage deals for existing Virgin Money Credit Card customers, offering:

• Three-year fixed rate available up to 65% LTV at 1.59% with a £495 fee
• Five-year fixed rate available up to 65% LTV at 1.84% with a £495 fee.

Additional product changes include:

• Two-year fixed rate fee saver option available up to 95% LTV with £300 cashback has been increased to 3.99%
• Three-year fixed rate fee saver option available up to 95% LTV with £300 cashback has been increased to 4.09%.

End dates will remain at 1st September of the relevant year.

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