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Virgin Money refreshes its mortgage range

02/12/2015

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 our mortgages pages.

  • Selected residential mortgage products reduced by up to 0.36%
  • Selected buy-to-let products reduced by up to 0.35%

Virgin Money has announced a number of changes to its mortgage range, reducing interest rates on higher LTV fixed rate residential products by up to 0.36%, and reducing buy-to-let rates by up to 0.35%.

The new product range is available from today, Wednesday, 2 December 2015.

Key residential mortgage product changes

  • Two-year fixed rate at 90% LTV reduced by 0.15% to 2.99% (no product fee, £300 cashback)
  • Three-year fixed rate at 85% LTV reduced by 0.36% to 2.99% (no product fee)
  • Three-year fixed rate at 90% LTV reduced by 0.35% to 2.78% (£995 product fee, £300 cashback for purchases and £500 for first time buyers)
  • Five-year fixed rate at 90% LTV reduced by 0.16% to 3.29% (£995 product fee, £300 cashback for purchases and £500 for first time buyers)

Key buy-to-let mortgage product changes

  • Two-year fixed rates at 75% LTV reduced by up to 0.30% and start from 2.59%
  • Two-year fixed rate at 60% LTV reduced by 0.35% to 2.34% (£995 product fee, £750 cashback)
  • Two-year fixed rate at 60% LTV reduced by 0.30% to 1.99% (£1,995 product fee, £750 cashback)
  • Five-year fixed rate at 60% LTV reduced by 0.24% to 3.15% (£1,995 product fee, £750 cashback)

Peter Rogerson, Virgin Money’s Commercial Director for Mortgages said: "We are delighted to continue to support the mortgage market with these improved rates on a number of our fixed rate residential and buy-to-let products."

Virgin Money has also made changes to other selected products and full details of the mortgage product range are available at www.virginmoney.com

Ends

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.

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, 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 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.