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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.

  • Higher LTV fixed rates reduced by up to 0.20%
  • Mortgages without product fees reduced by up to 0.25%
  • Tracker rates reduced, now starting from 1.94%

Virgin Money has announced a number of changes across its residential mortgage range. The updated range will be available from 27 September 2013.

Key residential changes

Mortgages for those with smaller deposits reduced:

  • 90% LTV two year fixed rate reduced by 0.20% to 4.55%*
  • 85% LTV two year fixed rate reduced by 0.10% to 3.29%*
  • 80% LTV two year fixed rate reduced by 0.17% to 2.68%*

Fee Saver Option rates (mortgages with no product fee) reduced:

  • Two year fixed rate up to 60% LTV reduced by 0.11% to 2.34%
  • Two year fixed rate up to 70% LTV reduced by 0.15% to 2.44%
  • Two year fixed rate up to 75% LTV reduced by 0.05% to 2.74%
  • Two year tracker up to 70% LTV reduced by 0.25% to 2.34%

Everyday mortgage rates reduced:

  • Two year fixed rate up to 70% LTV reduced by 0.05% to 2.14%*
  • Two year tracker up to 70% LTV reduced by 0.10% to 1.94%*
  • Two year tracker up to 75% LTV reduced by 0.14% to 2.24%*
  • Two year tracker up to 80% LTV reduced by 0.17% to 2.68%*

Freedom to Fix trackers, which allow customers to switch into a fixed rate during the tracker period, reduced:

  • Two year Freedom to Fix tracker up to 70% LTV reduced by 0.76% to 2.09%*
  • Two year Freedom to Fix tracker up to 75% LTV reduced by 0.85% to 2.34%*
  • Two year Freedom to Fix tracker up to 80% LTV reduced by 0.81% to 2.78%*

Longer term fixed rates:

  • Five year fixed rates available from 3.05% at 70% LTV*
  • Five year fixed rate with no product fee available from 3.39%

* £995 product fee applies

Peter Rogerson, Commercial Director for Mortgages and Savings at Virgin Money said: “We are pleased to announce these latest mortgage rate reductions, which help borrowers across a range of circumstances.”

- 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%2.34%2.04%2.34%
3 years70%2.40%2.79%2.40%2.79%
5 years70%3.05%3.39%3.05%3.39%

1 – includes cashback of £300

Residential Everyday tracker mortgages




Tracker periodMax LTV£995
Product Fee
Fee Saver
Product Fee
Fee Saver
2 years70%1.94%2.34%1.94%2.34%
3 years70%2.29%2.74%2.29%2.74%

Residential Freedom to Fix tracker mortgages

Tracker periodMax LTVPurchase
£995 Product Fee
£995 Product Fee
2 years70%2.09%2.09%

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.


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 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.

Virgin Money plc registered in England and Wales under company number 6952311. Registered Office: Jubilee House, Gosforth, Newcastle upon Tyne, NE3 4PL (Main Switchboard 0845 600 8401). Authorised and regulated by the Financial Services Authority.