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Virgin Money reduces mortgage rates


This information is intended for use by journalists and is correct at the time of publication. Customers wanting to view our current mortgage range should visit our mortgages pages.

  • Residential fixed and tracker rates reduced by up to 0.40% across a range of LTVs
  • Two-year residential fixed rates and trackers available from 2.04%
  • Two-year buy-to-let fixed rate at 2.99% available exclusively through intermediaries

Virgin Money has announced a number of changes to its mortgage range. The updated range will be available to purchase and remortgage customers from 21 August 2013.

Key residential changes

Two-year fixed rates

  • 60% LTV with a £995 product fee reduced to 2.04%
  • 60% LTV Fee Saver Option reduced to 2.45%
  • 80% LTV reduced to 2.85% with a £995 product fee - with £300 cash back for purchase customers

Three-year fixed rates

  • 70% LTV reduced to 2.29% with a £995 product fee
  • 80% LTV reduced to 3.25% with a £995 product fee - with £300 cash back for purchase customers
  • 85% LTV reduced to 3.69% with a £995 product fee - with £300 cash back for purchase customers

Tracker range

  • Two-year trackers up to 70% LTV reduced to 2.04% with a £995 product fee
  • Two-year trackers up to 80% LTV reduced to 2.85% with a £995 product fee
  • Three-year trackers up to 80% LTV reduced to 3.25% with a £995 product fee

Key buy-to-let changes

  • New two-year intermediary exclusive fixed rate available at 2.99% (60% LTV, £2,495 product fee)
  • Two-year fixed rates up to 60% LTV reduced to 3.38% (£1,995 product fee)
  • Cashback of £750 remains available across the buy-to-let range (excluding intermediary exclusives)

Peter Rogerson, Commercial Director for Mortgages and Savings at Virgin Money said: “We are pleased to support borrowers with these lower rates for residential mortgage customers. We are also continuing to help buy-to-let customers, and were delighted when our support for this segment was recognised this week in winning Best Buy-to-Let Mortgage Provider in the 2013 What Mortgage Awards.”

- ENDS -

For further information

Virgin Money Press Office
Tel: 0191 279 4676

Product details

Residential Everyday fixed rate mortgages




Fixed termMax LTV£995
Product Fee
Fee Saver
Product Fee
Fee Saver
2 years60%2.04%2.45%2.04%2.45%
3 years70%2.29%2.74%2.29%2.74%
5 years70%2.99%3.29%2.99%3.29%

1 – includes cashback of £300

Residential Everyday tracker mortgages




Tracker periodMax LTV£995
Product Fee
Fee Saver
Product Fee
Fee Saver
2 years70%2.04%2.59%2.04%2.59%
3 years70%2.29%2.74%2.29%2.74%

Intermediary exclusive – buy-to-let Everyday fixed rate mortgages

Fixed termProduct feeMax LTV 60%Max LTV 70%
2 years£2,4952.99%3.24%
5 years£2,4953.89%3.99%

Buy-to-let Everyday range – all including cashback of £750

ProductMax LTv£1,995 fee£995 fee2.5% fee2.0% feeFee Saver Option
2 year fixed60%3.38%3.75%2.99%3.69%5.09%
3 year fixed60%3.59%4.59%3.89%4.49%5.59%
5 year fixed60%3.99%4.68%3.99%4.59%5.79%
2 year tracker60%n/a3.75%2.99%3.69%n/a

Early Repayment Charges

Following the fixed rate or tracker period, the loan will revert to Virgin Money’s Standard Variable Rate (SVR), (currently 4.79%) for the life of the loan. On Everyday products, the Early Repayment Charge will apply to the outstanding secured loan balance at the time of redemption. Any overpayments in excess of the 10% annual allowance will also be subject to the Early Repayment Charge.

Fee Saver Option

The Fee Saver Option is ideal for customers looking to keep their fee costs as low as possible. This option is available across most of the range of mortgage products, enabling customers to choose between lower rates on a range of Product Fees, or paying a slightly higher rate without a Product Fee. Where fees are added to the loan they will incur interest for the term of the loan.


Products are available through registered mortgage intermediaries, via the UK based call centre on 0800 0285 277, at, or through the nationwide network of stores. Phone lines are open from 8am to 8pm Monday to Friday, 9am to 3pm Saturday, and 10am to 3pm on Sunday.

Notes to Editors

About Virgin Money

  • Virgin Money provides savings, mortgages, credit cards, pensions, investment and protection products to over four million customers
  • Virgin Money’s business ambition is to make “everyone better off” – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to shareholders
  • Virgin Money is the official sponsor of the London Marathon, the biggest annual fundraising event in the world. Virgin Money leads the London Marathon sponsorship with the ambition to help runners raise £¼ billion over 5 years and will use its infrastructure, online capability and financial expertise to deliver that through Virgin Money Giving

Supplementary notes

  • The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about these products should visit for full terms and conditions.

Virgin Money plc - Registered in England and Wales (Company No. 6952311). Registered Office - Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.