In this section

Virgin Money updates selected residential and buy-to-let mortgage rates

31/03/2016

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 mortgages pages.

  • Selected buy-to-let rates reduced, now starting from 1.69% at 65% LTV
  • Cashback on selected buy-to-let intermediary exclusives increased to £750 for a limited period
  • Selected buy-to-let rates reduced by up to 0.11%

Virgin Money has made rate reductions on selected products across its core residential and buy-to-let mortgage ranges.

It has also increased cashback on buy-to-let intermediary exclusives from £500 to £750, for a limited period only. Cashback of £1,500 remains available on its buy-to-let Stamp Duty Buster products.

All products are available from Thursday 31 March.

Key changes to the core residential product range

  • Selected two and three-year fixed rates between 65% and 90% LTV reduced by up to 0.20%
  • Two-year fixed rate at 65% LTV, now available at 1.69% (£995 product fee).
  • Two-year fixed rate at 90% LTV, now available at 2.47% (£995 product fee, £300 cashback for next time buyers, £500 cashback for first time buyers).
  • Three-year fixed rate at 65% LTV, now available at 1.99% (£995 product fee).

Key changes to the intermediary exclusive buy-to-let product range

  • For a limited period only, cashback on buy-to-let intermediary exclusives has been increased from £500 to £750, with £1,500 cashback remaining available on the buy-to-let Stamp Duty Buster products.
  • Intermediary exclusive products are available through all intermediaries registered with Virgin Money.

Key changes to the core buy-to-let product range

  • Three-year fixed rate at 75% LTV, now available at 3.74% (£995 product fee, £500 cashback)
  • Five-year fixed rate at 75% LTV, now available at 3.69% (£1,995 product fee, £500 cashback)
  • Five-year fixed rate at 75% LTV, now available at 3.79% (£995 product fee, £500 cashback)

Peter Rogerson, Virgin Money's Commercial Director for Mortgages , said: "These latest enhancements to our mortgage range demonstrate our continuing support to both residential borrowers and landlords. We have recently been named as best Buy-to-let provider in the Moneyfacts Business Awards and to celebrate this success we are reintroducing £750 cashback on buy-to-let intermediary exclusives for a limited period only."

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 offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to 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.
  • 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 £315 million, 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 http://uk.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.