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Virgin Money shaves up to 0.45% off fixed rates

ended 22. April 2026

Virgin Money will be reducing rates by up to 0.45% from tomorrow, it has just announced. On the purchase front, the lender is reducing 2-year fixed rates by up to 0.37%, 5-year fixed rates by up to 0.45%, 10-year fixed rates by 0.40% and Shared Ownership fixed rates by up to 0.45%. Remortgages will see 2-year fixed rates come down by up to 0.32%, 5-year fixed rates reduced by up to 0.35% while the 75% loan-to-value (LTV) 10-year Fixed Rate fee-saver product will be reduced by 0.25%. Any thoughts, ASAP please as writing this story NOW.

3 responses from the Newspage community

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Editor
Katy Eatenton
Mortgage & Protection Specialist at Eatenton Finance
This is great to see, lenders are reducing rates as aggressively as they increased them. If more follow suit this may get the property market moving again
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Aaron Strutt
Product and Communications Director at Trinity Financial
The fixed rate mortgage price reduction announcements are still coming through which is positive news. The issue is that tensions in the Middle East seem to be on the rise again and the money markets could get spooked again. We can't rule out future rate rises. The lowest two-year fixed rates are priced around 4.60% and there are still trackers priced below 4%.
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Editor
Charles Hart
Business Principal at LionHart Mortgages & Protection
The rate reductions of the last few days appear to be corrections from lenders who over-reacted when rates were rising, or simply priced themselves out of the market due to the high levels of applications they were receiving. That being said, this is a very opportunitic market where there will be a minority of lenders with appealing or standout deals rather than a more flat and stable market that we have had prior to the Iran war.

Best advice to clients is to seek advice on a wide range of options and when deals or opportunities present themselves act quickly, as they may not be there tomorrow!