Mortgage Rate Shift: Virgin Money Increases Selected Rates

As of 8pm today, 20th June, Virgin Money has made some significant changes to its mortgage rates. The lender has increased rates on selected products by up to 0.10%, affecting both purchase and buy-to-let (BTL) mortgages.

Mortgage rates are on the move

In the Purchase Exclusive range, a 75% loan-to-value (LTV) 5-year fixed rate fee-saver has been increased by 0.01% to 4.67%. Meanwhile, in the BTL Fix and Switch range, a 60% LTV Fix and Switch fee-saver has been reduced by 0.10% to 5.54%, and a 75% LTV Fix and Switch fee-saver has been reduced by 0.10% to 5.64%.

‘It’s essential for borrowers to stay on top of rate changes to ensure they’re getting the best deal possible.’ - [Your Name]

Virgin Money has also reduced various rates across purchase, BTL, and product transfer. For instance, a 90% 5-year fixed rate fee-saver has been reduced by 0.09% to 5.00%, and a 95% 5-year fixed rate fee-saver has been reduced by 0.05% to 5.35%.

BTL rates are also affected

In the BTL space, fixed rates with a £995 fee will be reduced by up to 0.31%, with rates starting from 4.78%. BTL fixed rate fee-savers will be reduced by up to 0.24%, with rates starting from 5.04%. Additionally, 65% and 75% LTV residential product transfer fixed rates will be reduced by up to 0.04%, with rates starting from 4.41%.

Mortgage brokers can help navigate the changing rate landscape

These changes highlight the importance of borrowers staying informed about rate movements and seeking expert advice from mortgage brokers to find the best deals available.