"Virgin has come out with welcome rate cuts at higher loan-to-values"

Virgin Money has slashed rates across its portfolio in a move that will come as a breath of fresh air in a market suffocating under high rates. By cutting rates on residential purchase mortgages, remortgage, and buy-to-let options, the decision reflects a broader trend of easing lending conditions amid a backdrop of falling UK inflation rates and BoE policy shifts. Yet, while optimism is in the air, caution remains, as the future trajectory of inflation remains uncertain, and any unexpected rise could quickly alter the landscape. So, although the latest set of rate cuts light a path through the uncertainty, the fog of economic instability is ever present.

Virgin are making hay while the sun is still shining with these reductions. They have followed several lenders in recent weeks by targeting the purchase maket with the majority of their changes, however it is positive that they are still making reductions across a number of other product types as well.

Despite doom and gloom speeches from Labour ahead of the Autumn Budget, lenders continue to push out positive messages of rate reductions, showing they are banking on continued economic recovery. Let's hope that the new administration doesn't do something the markets don't like.

While other lenders appear to be napping during the short week, Virgin has come out with welcome rate cuts at higher loan-to-values. With activity levels increasing since the base rate cut, this will be music to the ears for those with lower deposits who are eager to move.

This is excellent news from Virgin, providing more stimulus to the mortgage market and even more help for homeowners. Will this be the last change in August or are we set for a last-minute flurry from others? We are likely to see further cuts in fixed rates over the coming days, as other lenders will look to grab some market share before the summer finishes.

After a recent lull in activity, Virgin Money have announced a host of reductions across all areas of their mortgage products. This is a welcome sign and shows some lenders still have market confidence. We are now in a position where lenders are jostling for space in a crowded market and we may see some other small changes as a result of Virgin's actions.

Whilst it's good to see some chunky rate reductions from Virgin at the higher loan to values, it still feels like lip service rather than anything which will rock the worlds of borrowers in that loan to value bracket.