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Virgin Money launches new six-year fixed rate mortgages from 2.99%

16/09/2014

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.

  • New six-year products available at the same rates as equivalent five year products
  • The only six-year fixed rate mortgages available in the market

Virgin Money is launching two new mortgages, offering customers a six-year fixed rate at the same attractive price as is currently available on its five-year fixed rate mortgages.

The products are available for purchase and remortgage customers and will be available from Wednesday 17 September 2014, for a limited period only.

The new products are:

  • Six-year fixed rate at 2.99% up to 70% LTV with a £995 product fee
  • Six-year fixed rate at 3.59% up to 70% LTV with no product fee

The new products are available through all registered intermediaries and direct to customers via MoneySupermarket.com.


Peter Rogerson, Virgin Money’s Savings and Mortgages Director said: "This is the only six-year fixed rate mortgage available in the market and we are delighted that we can offer it to customers at the same rate as for five years. It's a great choice for those customers looking for a prolonged period of certainty with their mortgage payments. We expect this to be a very popular product so it will only be available for a limited period."


Full details of Virgin Money's mortgage product range are available at: www.virginmoney.com


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Media Contacts

Virgin Money Press Office
0191 279 4676

press.office@virginmoney.com


NOTES TO EDITORS


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.

Early Repayment Charges – Buy-to-Let

Following the fixed rate or tracker period, the loan will revert to Virgin Money’s Buy-to-Let Variable Rate, (currently 4.99%) 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.

Applications

Products are available through registered mortgage intermediaries, via the UK based call centre on 0800 0285 277 and at www.virginmoney.com. 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, current accounts, pensions, investment and protection products
  • 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 one-day fundraising event in the world. Virgin Money has helped London Marathon runners raise over £¼ billion through Virgin Money Giving, the not-for-profit online fundraising service, since 2010.

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 this product should visit http://uk.virginmoney.com/virgin/mortgages/ 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.