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Virgin Money launches new remortgage deals and reduces selected mortgage rates

16/06/2015

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 visit our mortgages pages.

  • Intermediary exclusive two-year fixed rate reduced by 0.10%
  • New five-year remortgage options added to the range
  • Residential fixed rates reduced by up to 0.16%
  • Buy-to-let rates reduced by up to 0.30%

Virgin Money has announced a number of improvements to its residential and buy-to-let mortgage range. The new products are available from Tuesday 16 June 2015.

Intermediary exclusive product change

  • Two-year fixed rate at 65% LTV reduced by 0.10% to 1.39% (£995 product fee).
  • Virgin Money continues to waive the £99 application fee on this product.

New remortgage products

  • Five-year fixed rate options launched for remortgage customers, offering 2.34% at 70% LTV (£1,495 product fee) and 2.94% at 80% LTV (£495 product fee).

Key residential product changes

  • Two-year fixed rate at 75% LTV reduced by 0.16% to 2.09% (£995 product fee).
  • Two-year fixed rate at 80% LTV reduced by 0.15% to 2.14% (£995 product fee, £300 cashback for purchases).
  • Two-year fixed rate at 85% LTV reduced by 0.15% to 2.19% (£995 product fee, £300 cashback for purchases).

Key buy-to-let product changes

  • Two-year fixed rate at 75% LTV reduced by 0.16% to 2.89% (£1,995 product fee, £500 cashback).
  • Five-year fixed rate at 75% LTV reduced by 0.10% to 3.79% (£995 product fee, £500 cashback).
  • Two-year tracker rate at 75% LTV reduced by 0.30% to 2.79% (£995 product fee, £500 cashback).

Peter Rogerson, Virgin Money’s Commercial Director for Mortgages said: "We’re delighted to announce these latest improvements to our mortgage range, reducing rates on both our residential and buy-to-let products. In line with the commitments we announced earlier in the year, our intermediary partners have access to all products across our range and we are pleased to announce a further rate reduction on one of our most popular intermediary exclusive deals."

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


Media Contacts:

Virgin Money Press Office:
0191 279 4676
press.office@virginmoney.com


NOTES TO EDITORS


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 our 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, including funds raised 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 www.virginmoney.com/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.