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Virgin Money welcomes in the new year with a new mortgage range

04/01/2016

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.

Virgin Money has started 2016 by making a number of changes to its mortgage range, including some higher LTV products designed to help first time buyers with smaller deposits beat the cost of stamp duty. All products are available now.

New stamp duty specials offering enhanced cashback

  • Two-year fixed rate at 95% LTV, available at 4.29% (no product fee, £1,500 cashback)
  • Five-year fixed rate at 95% LTV, available at 4.79% (no product fee, £1,500 cashback)

Key residential mortgage product changes

  • Two-year fixed rate at 95% LTV, reduced by 0.31% to 3.98% (no product fee, £300 cashback)
  • Five-year fixed rate at 95% LTV, reduced by 0.20% to 4.69% (no product fee, £300 cashback)

New build rate reductions

  • Two-year fixed rate intermediary exclusive at 85% LTV, reduced by 0.09% to 2.05% (£995 product fee, £500 cashback)
  • Help to Buy Equity Loan five-year fixed rate at 75% LTV, reduced by 0.15% to 2.68% (£995 product fee, £500 cashback)
  • Help to Buy Equity Loan five-year fixed rate at 75% LTV, reduced by 0.10% to 2.93% (no product fee, £500 cashback)

Key changes to the low LTV product range

  • Five-year fixed rate at 65% LTV reduced by 0.21% to 2.54% (No product fee)

Peter Rogerson, Virgin Money’s Commercial Director for Mortgages said: "We are kick-starting the New Year with a refreshed mortgage range designed to help even more first time buyers on to the property ladder with lower rates and cashback specials to assist with stamp duty payments. There are also rate reductions for Help to Buy customers."

Virgin Money has also made changes to other mortgage products and full details of the 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 4.79%) 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 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.