Virgin Money has increased rates by up to 0.16% on its residential and buy-to-let (BTL) mortgage ranges, after raising them by up to 0.10% last week. On its residential rates, selected two- and five-year rates now start from 4.14% with a £995 fee, while its fee-free option starts from 4.29%. On its remortgage range, two-year fixes at 65% LTV start from 4.43%, while five-year fixes begin at 4.12% at 65% LTV. For BTL rates, two-year fixes have been increased to 3.57% at 60% LTV, while rates at 75% LTV now start from 3.72%.

Saffron for Intermediaries has launched a new product transfer service to help customers switch to a new mortgage product. The service, available to customers with mortgage deals expiring from January 2025, offers brokers a 0.35% procuration fee on all eligible product transfers. Brokers can start the product transfer process via the online PT portal, using the authentication code sent to customers three months before their current deal expires. The procuration fee will be paid within two weeks from completion.

Nottingham Building Society has enhanced flexibility for foreign nationals and returning expats through a range of its changes to its mortgage products. The changes offer borrowers greater flexibility with rate reductions, new visa acceptance criteria and extended end dates, to give more accessible options for skilled foreign workers and expats looking to settle in the UK. The updates also include expanded visa acceptance to include global talent, pre-settlement, UK ancestry, British national overseas, health and care worker, skilled worker, tier two and dependent visas.

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