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Virgin Money reduces selected Mortgage rates on Intermediary Exclusives

14/01/2015

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.

  • Mortgage rates reduced by up to 0.14% on a number of 65% LTV Intermediary Exclusives
  • Two-year fixed rate mortgages now available from 1.69% with a £1,495 product fee
  • Five-year fixed rate mortgages now available from 2.55% with a £1,495 product fee

Virgin Money has reduced interest rates on a number of residential 65% LTV mortgage products from its Intermediary Exclusive range. The revised products will be available exclusively through intermediaries registered with a Virgin Money national account immediately.



Key changes to the Intermediary Exclusive range

  • Two-year fixed rate at 65% LTV reduced to 1.75%, with a £995 product fee.
  • Three-year fixed rate at 65% LTV reduced to 2.25%, with a £995 product fee.
  • Five-year fixed rate at 65% LTV reduced to 2.65%, with a £995 product fee.


Key changes to the Larger Loan Intermediary Exclusive range

  • Two-year fixed rate at 65% LTV reduced to 1.69% with a £1,495 product fee.
  • Five-year fixed rate at 65% LTV reduced to 2.55%, with a £1,495 product fee.

The Larger Loan Intermediary Exclusives have a minimum loan size of £150,000.



Peter Rogerson, Virgin Money’s Mortgages Director said: “Virgin Money is committed to supporting the intermediary market and borrowers in a range of situations. Our latest changes make sure we continue to offer attractive options to our intermediary partners for their low LTV clients.”

Full details of Virgin Money’s new mortgage product range are available at http://uk.virginmoney.com/virgin/mortgages


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, an 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.


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.