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Virgin Money reduces mortgage Standard Variable Rate by 0.25%

04/08/2016

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 mortgage pages for full terms and conditions.

  • Virgin Money confirms that it will pass on the full Bank of England base rate cut to its mortgage customers
  • 0.25% cut in SVR will take effect on 1 September 2016

Jayne-Anne Gadhia, Chief Executive said: "We recognise the important role that banks have in supporting growth in the underlying economy by passing on lower borrowing costs to customers. As a result, Virgin Money will be passing on the full 25 basis point cut in Bank Rate to our mortgage Standard Variable Rate from 1 September 2016."

ENDS

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

NOTES TO EDITORS

About Virgin Money

  • Virgin Money offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to over 3 million customers across the UK.
  • 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.
  • More than 11,500 charities have registered with Virgin Money Giving and, by the end of June 2016, over £475 million had been raised for charity through the service since its launch in 2009, resulting in an estimated £15 million more raised for charity because of its not-for-profit model.
Virgin Money Holdings (UK) plc - Registered in England and Wales (Company No. 03087587). Registered Office: Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL.