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Virgin Money reduces rates on selected mortgage products

11/08/2016

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.

  • Three-year residential fixed rates now available from 1.79% at 65% LTV, with a £995 product fee
  • Five-year residential fixed rates now available from 2.09% at 65% LTV, with a £995 product fee

Virgin Money has updated its mortgage range with a number of rate reductions on selected three and five-year fixed rate products at 65%, 70% and 75% LTVs.

All products will be available from Friday 12 August.

Changes to three-year residential fixed rates

  • Fixed rate at 65% LTV reduced to 1.79% (£995 product fee)
  • Fixed rate at 70% LTV reduced to 1.98% (£995 product fee)
  • Fixed rate at 75% LTV reduced to 1.99% (£995 product fee)

Changes to five-year residential fixed rates

  • Fixed rate at 65% LTV reduced to 2.09% (£995 product fee)
  • Fixed rate at 70% LTV reduced to 2.29% (£995 product fee)
  • Fixed rate at 75% LTV reduced to 2.34% (£995 product fee)

Peter Rogerson, Virgin Money’s Commercial Director for Mortgages said: "We’re delighted to reduce fixed rates on a number of our three and five year mortgage deals across a range of LTVs. This follows our decision to pass on the full benefit of the Bank of England base rate cut to customers paying our Standard Variable Rate."

Full details of Virgin Money’s mortgage 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 4.54%) 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.

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 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.

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/mortgages/ for full terms and conditions.

Virgin Money Holdings (UK) plc - Registered in England and Wales (Company No. 03087587). Registered Office: Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL.