Virgin Money cuts rates and launches exclusive deals; TSB slashes rates.

Virgin Money has brought out a range of exclusive purchase and remortgage deals and cut select core rates by up to 0.93 per cent.

In its core range, its shared ownership fixed rates at 95 per cent loan to value (LTV) will fall by around 0.93 per cent.

This includes a two-year fixed rate with £995 fee cut by 0.39 per cent to 4.99 per cent. Its five-year fixed rate with the same fee has fallen by 0.21 per cent to 4.59 per cent.

Its no-fee two-year fixed rate at 65 per cent LTV has decreased by 0.24 per cent to 5.15 per cent and no-fee five-year fixed rate has fallen by 0.21 per cent to 4.59 per cent.

The lender’s 10-year fixed rates at 75 per cent LTV will be reduced by 0.39 per cent to 4.49 per cent.

Virgin Money added that select two, three and five-year product transfer rates will be cut by 0.75 per cent.

The lender has also added 10-year fixed buy-to-let rates with £995 fee with pricing beginning from 4.49 per cent.

Virgin Money has brought out several exclusive purchase deals with £1,000 cashback and free valuation.

This includes two, three and five-year fixed rates at 85 per cent LTV. Two-year fixed rates are priced at 5.5 per cent, three-year fixed rates at 5.37 per cent and five-year fixed rates at 4.89 per cent.

TSB slashes rates by up to 1.3 per cent

TSB will reduce select residential, product transfer and additional borrowing product rates by up to 1.2 per cent.

The changes come into effect from Monday 9 January.

On the residential side, its five-year fixed rate house purchase and remortgage with no-fee have been cut by up to 1.3 per cent.

Five-year fixed rates for purchases start from 5.09 per cent and remortgage deals begin from 4.99 per cent.

In its product transfer range, two-year fixed rates up to 80 per cent LTV with £995 fee have fallen by up to 0.6 per cent and between 75 and 120 per cent LTV with no fee have fallen by 0.1 per cent.

Pricing for fee deals starts from 5.49 per cent and no-fee deals are priced from 6.44 per cent.

Five-year fixed rate residential deals up to 90 per cent LTV with no fee has decreased by up to 1.2 per cent, with rates starting from 4.99 per cent.

Two-year fixed residential products between 85 and 90 per cent LTV with £995 fee have gone down by 0.5 per cent and begin from 5.69 per cent.

Five-year fixed residential products with £995 between 85 and 90 per cent LTV have fallen by 0.7 per cent and are priced at 5.49 per cent.

On the additional borrowing side, five-year fixed residential rates up to 80 per cent LTV have fallen by 1.2 per cent with pricing beginning from 4.99 per cent.