Virgin reduces mortgage rates

Virgin Money is the latest lender to reduce two-year fixed rates available at 90 per cent loan to value, with a deal now available at 4.35 per cent.

Other changes to the lender’s range include a two-year fixed rate product at 2.75 per cent up to 80 per cent LTV with a £995 product fee.

Virgin Money Fee Saver products’ two-year fixed rate is at 4.35 per cent up to 90 per cent LTV, with no fee.

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Virgin Money buy-to-let products have also been reduced, with a two-year fixed rate at 3.95 per cent up to 70 per cent LTV with a £995 product fee.

Last month Mortgage Brain reported rates for 90 per cent LTVs are down across the board compared with the start of January 2013.

The lowest rate five-year tracker with a 90 per cent LTV is now 13 percentage points lower, down from 4.09 per cent to 3.54 per cent, closely followed by the lowest rate two-year fix, down 11 percentage points from 3.94 per cent to 3.49 per cent.